Royal Fund Management LLC Trims Stake in CSX Co. (NASDAQ:CSX)

Royal Fund Management LLC lowered its holdings in CSX Co. (NASDAQ:CSX) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,396 shares of the transportation company’s stock after selling 3,915 shares during the quarter. Royal Fund Management LLC’s holdings in CSX were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Fortitude Family Office LLC acquired a new position in CSX in the 4th quarter valued at about $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX in the 4th quarter valued at $27,000. Venturi Wealth Management LLC lifted its holdings in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after buying an additional 692 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX in the 4th quarter valued at about $34,000. Finally, Avion Wealth raised its position in shares of CSX by 450.5% during the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX traded up $0.28 on Friday, reaching $33.85. The stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. The firm has a market capitalization of $66.17 billion, a PE ratio of 18.60, a PEG ratio of 2.01 and a beta of 1.19. 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 firm has a 50-day moving average of $36.23 and a 200 day moving average of $34.54. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the company earned $0.48 EPS. CSX’s revenue was down .8% on a year-over-year basis. Sell-side analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is presently 26.37%.

Analysts Set New Price Targets

CSX has been the topic of several research reports. Stifel Nicolaus lifted 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. UBS Group reduced their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. BMO Capital Markets boosted their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Jefferies Financial Group dropped their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $38.00.

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.