Pinnacle Wealth Management Advisory Group LLC Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Pinnacle Wealth Management Advisory Group LLC lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,925 shares of the transportation company’s stock after selling 894 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in CSX were worth $1,800,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSX. High Net Worth Advisory Group LLC raised its position in CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after acquiring an additional 304 shares in the last quarter. Stratos Wealth Advisors LLC raised its position in shares of CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after buying an additional 304 shares during the period. Cornercap Investment Counsel Inc. grew its stake in CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after buying an additional 309 shares during the period. Astoria Portfolio Advisors LLC. lifted its position in CSX by 2.4% during the 3rd quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock worth $434,000 after acquiring an additional 349 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in CSX by 2.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock valued at $552,000 after buying an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen lifted their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Susquehanna increased their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Royal Bank of Canada lowered their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group cut 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. Finally, Raymond James boosted their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Price Performance

Shares of NASDAQ CSX traded up $0.26 during trading on Wednesday, reaching $34.22. The company had a trading volume of 8,092,222 shares, compared to its average volume of 12,196,176. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The business’s 50 day moving average price is $36.06 and its 200-day moving average price is $34.64. The stock has a market cap of $66.90 billion, a PE ratio of 18.80, a PEG ratio of 2.03 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, beating 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 business 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 firm posted $0.48 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts expect that CSX Co. will post 1.95 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. CSX’s payout ratio is 26.37%.

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.