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

Gibraltar Capital Management Inc. cut its stake in shares of CSX Co. (NASDAQ:CSX) by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,781 shares of the transportation company’s stock after selling 902 shares during the quarter. CSX makes up approximately 0.6% of Gibraltar Capital Management Inc.’s portfolio, making the stock its 27th biggest position. Gibraltar Capital Management Inc.’s holdings in CSX were worth $1,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new stake in shares of CSX during the fourth quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of CSX during the first quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX during the fourth quarter worth approximately $34,000. Finally, Burkett Financial Services LLC purchased a new position in CSX in the fourth quarter worth $34,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSX. Susquehanna cut their price objective on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group lowered their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, July 8th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Finally, Stifel Nicolaus raised their price target on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.39.

CSX Stock Performance

Shares of CSX stock traded up $0.05 during trading on Friday, hitting $33.79. 6,764,400 shares of the stock were exchanged, compared to its average volume of 10,738,235. The stock’s fifty day moving average is $33.37 and its 200 day moving average is $35.06. The stock has a market cap of $66.06 billion, a PE ratio of 18.57, a P/E/G ratio of 1.83 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that CSX Co. will post 1.94 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio is presently 26.37%.

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.