CSX Co. (NASDAQ:CSX) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,511 shares of the transportation company’s stock after selling 1,158 shares during the period. Parsons Capital Management Inc. RI’s holdings in CSX were worth $2,929,000 at the end of the most recent quarter.

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

CSX Trading Down 0.8%

Shares of CSX stock opened at $31.98 on Tuesday. 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 firm has a market cap of $60.08 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24. The company has a 50-day moving average of $29.32 and a two-hundred day moving average of $31.32. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10.

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

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.63%. CSX’s dividend payout ratio (DPR) is 31.14%.

Wall Street Analyst Weigh In

CSX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company. Raymond James reiterated an “outperform” rating and issued a $33.00 target price (down from $34.00) on shares of CSX in a research note on Thursday, April 17th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $35.00 target price on shares of CSX in a research note on Monday, June 2nd. Wells Fargo & Company decreased their target price on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Finally, Bank of America boosted their price target on shares of CSX from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.