Jacobs & Co. CA Decreases Stock Holdings in CSX Co. (NASDAQ:CSX)

Jacobs & Co. CA trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.6% in the first quarter, HoldingsChannel.com reports. The fund owned 352,422 shares of the transportation company’s stock after selling 5,613 shares during the period. CSX makes up 1.4% of Jacobs & Co. CA’s investment portfolio, making the stock its 25th largest position. Jacobs & Co. CA’s holdings in CSX were worth $13,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter worth $27,000. Life Planning Partners Inc purchased a new stake in CSX in the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX in the first quarter worth $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX in the fourth quarter worth $34,000. Finally, Burkett Financial Services LLC purchased a new stake in CSX in the fourth quarter worth $34,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group decreased their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus raised their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wells Fargo & Company started coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Royal Bank of Canada reduced their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.59.

CSX Price Performance

NASDAQ:CSX traded down $0.58 during trading hours on Tuesday, hitting $32.63. 3,437,008 shares of the company’s stock traded hands, compared to its average volume of 11,844,230. 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 business’s fifty day simple moving average is $33.58 and its two-hundred day simple moving average is $35.14. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The firm has a market cap of $63.79 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.73 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue was down .8% compared to the same quarter last year. On average, research analysts anticipate that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.