Sheaff Brock Investment Advisors LLC Cuts Stock Position in CSX Corporation (NASDAQ:CSX)

Sheaff Brock Investment Advisors LLC lessened its stake in CSX Corporation (NASDAQ:CSX) by 6.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,173 shares of the transportation company’s stock after selling 969 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in CSX were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after purchasing an additional 15,029 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of CSX by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock worth $368,000 after acquiring an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of CSX by 9.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock worth $1,141,000 after acquiring an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of CSX by 61.4% during the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock worth $418,000 after acquiring an additional 5,382 shares during the last quarter. Finally, Cercano Management LLC purchased a new stake in shares of CSX during the fourth quarter worth about $4,869,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CSX shares. Robert W. Baird set a $44.00 price target on CSX and gave the stock an “outperform” rating in a research note on Friday. The Goldman Sachs Group restated a “neutral” rating and set a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Baird R W upgraded CSX to a “strong-buy” rating in a research note on Tuesday, July 1st. Wells Fargo & Company boosted their price target on CSX from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Finally, Raymond James Financial boosted their price target on CSX from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

CSX Trading Down 0.1%

Shares of NASDAQ:CSX opened at $35.71 on Tuesday. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a market capitalization of $66.57 billion, a PE ratio of 22.04, a PEG ratio of 3.16 and a beta of 1.23. The business has a 50 day moving average of $32.78 and a two-hundred day moving average of $31.28. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the company posted $0.49 earnings per share. CSX’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s payout ratio is presently 32.10%.

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.