CSX Co. (NASDAQ:CSX) Stake Decreased by First United Bank & Trust

First United Bank & Trust cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,485 shares of the transportation company’s stock after selling 7,510 shares during the period. First United Bank & Trust’s holdings in CSX were worth $1,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSX. Norges Bank bought a new stake in shares of CSX during the fourth quarter valued at about $780,194,000. Ameriprise Financial Inc. grew its position in CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after buying an additional 5,568,624 shares in the last quarter. Finally, Fiduciary Management Inc. WI acquired a new stake in shares of CSX in the 4th quarter worth approximately $178,259,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

CSX opened at $32.32 on Thursday. The firm has a market capitalization of $60.71 billion, a P/E ratio of 18.06, a PEG ratio of 1.92 and a beta of 1.24. The stock has a fifty day moving average of $29.52 and a 200-day moving average of $31.33. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Equities analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

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

Analyst Upgrades and Downgrades

CSX has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Bank of America upped their price target on shares of CSX from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Finally, Argus set a $32.00 price objective on shares of CSX in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.95.

CSX 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.