AAFMAA Wealth Management & Trust LLC Sells 9,728 Shares of CSX Co. (NASDAQ:CSX)

AAFMAA Wealth Management & Trust LLC lowered its position in shares of CSX Co. (NASDAQ:CSX) by 15.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,550 shares of the transportation company’s stock after selling 9,728 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in CSX were worth $1,605,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in shares of CSX in the fourth quarter valued at about $31,000. Finally, Sierra Ocean LLC bought a new position in shares of CSX in the fourth quarter worth about $33,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Royal Bank of Canada reduced their price objective on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group restated a “neutral” rating and set a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Finally, BMO Capital Markets cut their target price on shares of CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $33.95.

CSX Trading Up 1.5%

Shares of NASDAQ CSX opened at $32.23 on Friday. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business’s 50 day moving average is $29.28 and its two-hundred day moving average is $31.39. The stock has a market capitalization of $60.55 billion, a P/E ratio of 18.01, a PEG ratio of 1.92 and a beta of 1.24.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. As a group, research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s dividend payout ratio (DPR) is 31.14%.

About CSX

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.