Tiemann Investment Advisors LLC Sells 925 Shares of CSX Corporation $CSX

Tiemann Investment Advisors LLC cut its position in CSX Corporation (NASDAQ:CSX) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,060 shares of the transportation company’s stock after selling 925 shares during the quarter. Tiemann Investment Advisors LLC’s holdings in CSX were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX in the fourth quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in shares of CSX in the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX in the fourth quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter valued at $30,000. Finally, Rossby Financial LCC bought a new position in shares of CSX in the first quarter valued at $28,000. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 1.5%

CSX opened at $35.99 on Thursday. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The company has a market capitalization of $67.10 billion, a P/E ratio of 22.22, a P/E/G ratio of 2.73 and a beta of 1.25. The stock has a fifty day moving average of $34.21 and a 200-day moving average of $31.64.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping 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 quarter last year, the firm earned $0.49 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. On average, equities analysts expect that CSX Corporation 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 Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. CSX’s dividend payout ratio (DPR) is currently 32.10%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CSX. Argus set a $32.00 target price on shares of CSX in a research note on Friday, April 25th. Baird R W raised CSX to a “strong-buy” rating in a report on Tuesday, July 1st. TD Cowen raised CSX from a “hold” rating to a “buy” rating and raised their price target for the company from $32.00 to $45.00 in a report on Monday, July 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of CSX in a report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised CSX from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.