Certified Advisory Corp Cuts Holdings in CSX Co. (NASDAQ:CSX)

Certified Advisory Corp trimmed its stake in CSX Co. (NASDAQ:CSX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,571 shares of the transportation company’s stock after selling 544 shares during the period. Certified Advisory Corp’s holdings in CSX were worth $644,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of CSX in the 4th quarter valued at $27,000. Life Planning Partners Inc purchased a new stake in CSX in the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in CSX in the 4th quarter worth approximately $34,000. Venturi Wealth Management LLC lifted its stake in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares during the period. Finally, Avion Wealth increased its stake in shares of CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSX shares. Stifel Nicolaus lifted their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. TD Cowen boosted their target price on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Jefferies Financial Group dropped their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Finally, BMO Capital Markets lifted their price target on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $38.00.

CSX Price Performance

CSX traded up $0.71 during trading on Wednesday, reaching $33.78. The company’s stock had a trading volume of 4,784,298 shares, compared to its average volume of 11,929,221. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm has a fifty day simple moving average of $35.24 and a two-hundred day simple moving average of $34.93. The company has a market cap of $66.04 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.00 and a beta of 1.19. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business earned $0.48 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that CSX Co. will post 1.96 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.48 annualized dividend and a yield of 1.42%. CSX’s payout ratio is 26.37%.

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.