Morningstar Investment Management LLC Sells 15,230 Shares of CSX Corporation (NASDAQ:CSX)

Morningstar Investment Management LLC lessened its position in CSX Corporation (NASDAQ:CSX) by 44.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,089 shares of the transportation company’s stock after selling 15,230 shares during the period. Morningstar Investment Management LLC’s holdings in CSX were worth $562,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the fourth quarter valued at $27,000. Rossby Financial LCC acquired a new stake in CSX during the first quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new stake in shares of CSX during the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the fourth quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the first quarter valued at approximately $30,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.1%

Shares of CSX stock opened at $35.71 on Tuesday. The firm’s 50 day moving average is $32.78 and its 200 day moving average is $31.28. The firm has a market capitalization of $66.57 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 3.16 and a beta of 1.23. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. Equities research analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.46%. CSX’s dividend payout ratio is currently 32.10%.

Analysts Set New Price Targets

CSX has been the subject of several recent research reports. Evercore ISI reduced their price target on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. BMO Capital Markets lifted their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of CSX from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Citigroup increased their target price on shares of CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.