CSX Corporation (NASDAQ:CSX) Shares Sold by Trivium Point Advisory LLC

Trivium Point Advisory LLC lowered its stake in CSX Corporation (NASDAQ:CSX) by 16.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,384 shares of the transportation company’s stock after selling 4,720 shares during the period. Trivium Point Advisory LLC’s holdings in CSX were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX in the fourth quarter worth $27,000. Rossby Financial LCC purchased a new position in shares of CSX in the first quarter worth $28,000. Accredited Wealth Management LLC purchased a new position in shares of CSX in the fourth quarter worth $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX in the fourth quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX in the first quarter worth $30,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $36.35 on Friday. The stock has a 50-day simple moving average of $33.90 and a 200-day simple moving average of $31.54. 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 stock has a market capitalization of $67.77 billion, a PE ratio of 22.44, a PEG ratio of 2.69 and a beta of 1.25. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. On average, analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s dividend payout ratio (DPR) is 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of research reports. Bank of America upgraded shares of CSX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of CSX from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Evercore ISI cut their price objective on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company increased their price objective on shares of CSX from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Finally, TD Cowen upgraded shares of CSX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.