Stock Yards Bank & Trust Co. Sells 1,597 Shares of CSX Co. (NASDAQ:CSX)

Stock Yards Bank & Trust Co. trimmed its stake in CSX Co. (NASDAQ:CSX) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,086 shares of the transportation company’s stock after selling 1,597 shares during the period. Stock Yards Bank & Trust Co.’s holdings in CSX were worth $2,445,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new position in shares of CSX in the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX in the first quarter worth approximately $29,000. Strategic Financial Concepts LLC purchased a new stake in CSX in the second quarter worth approximately $33,000. Burkett Financial Services LLC purchased a new stake in CSX in the fourth quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC purchased a new stake in CSX in the fourth quarter worth approximately $35,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX stock opened at $34.07 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a market cap of $66.60 billion, a PE ratio of 18.72, a P/E/G ratio of 1.77 and a beta of 1.19. The business has a 50 day moving average of $33.95 and a 200 day moving average of $34.42. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, equities research analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. CSX’s dividend payout ratio is presently 26.37%.

Analysts Set New Price Targets

Several brokerages have issued reports on CSX. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. Susquehanna upped their target price on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research note on Wednesday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 target price on shares of CSX in a research note on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Monday, July 8th. Finally, Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.