CSX Co. (NASDAQ:CSX) Shares Sold by Secure Asset Management LLC

Secure Asset Management LLC trimmed its position in CSX Co. (NASDAQ:CSX) by 17.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,188 shares of the transportation company’s stock after selling 3,007 shares during the quarter. Secure Asset Management LLC’s holdings in CSX were worth $418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CSX. Wellington Management Group LLP grew its position in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after buying an additional 15,029 shares during the last quarter. Waycross Partners LLC grew its position in shares of CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after buying an additional 40,611 shares during the last quarter. Glassy Mountain Advisors Inc. grew its position in shares of CSX by 2.4% in the 4th quarter. Glassy Mountain Advisors Inc. now owns 112,770 shares of the transportation company’s stock valued at $3,639,000 after buying an additional 2,641 shares during the last quarter. Cercano Management LLC purchased a new position in shares of CSX in the 4th quarter valued at $4,869,000. Finally, Geode Capital Management LLC grew its position in shares of CSX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after buying an additional 726,507 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 0.2%

Shares of NASDAQ:CSX opened at $31.93 on Thursday. The company has a market cap of $59.98 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.92 and a beta of 1.22. The firm’s 50-day simple moving average is $29.18 and its 200-day simple moving average is $31.43. 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 fifty-two week low of $26.22 and a fifty-two week high of $37.10.

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

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.63%. 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 recent analyst reports. Argus set a $32.00 target price on shares of CSX in a research report on Friday, April 25th. Stifel Nicolaus lowered their price objective 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. The Goldman Sachs Group reissued a “neutral” rating and set a $35.00 price objective on shares of CSX in a research report on Monday. Susquehanna lowered their price objective on shares of CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price objective on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $33.95.

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.