CSX Co. (NASDAQ:CSX) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its holdings in CSX Co. (NASDAQ:CSX) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,631 shares of the transportation company’s stock after selling 965 shares during the quarter. Confluence Wealth Services Inc.’s holdings in CSX were worth $431,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CSX. PFG Investments LLC increased its position in CSX by 111.6% in the 1st quarter. PFG Investments LLC now owns 18,366 shares of the transportation company’s stock worth $681,000 after purchasing an additional 9,685 shares during the last quarter. Donaldson Capital Management LLC lifted its stake in shares of CSX by 6.8% in the first quarter. Donaldson Capital Management LLC now owns 141,253 shares of the transportation company’s stock valued at $5,236,000 after buying an additional 8,997 shares during the period. Raymond James & Associates lifted its position in shares of CSX by 7.7% in the 1st quarter. Raymond James & Associates now owns 1,810,990 shares of the transportation company’s stock worth $67,133,000 after acquiring an additional 128,941 shares during the period. New Century Financial Group LLC acquired a new stake in CSX during the first quarter worth $226,000. Finally, Spinnaker Investment Group LLC acquired a new stake in shares of CSX during the 1st quarter valued at about $200,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 2.2 %

CSX stock traded down $0.73 during midday trading on Tuesday, hitting $33.22. The company had a trading volume of 17,483,721 shares, compared to its average volume of 12,415,493. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock has a market cap of $64.94 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.04 and a beta of 1.18. The stock’s 50 day moving average price is $36.48 and its 200 day moving average price is $34.54. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. As a group, equities research analysts expect that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CSX shares. UBS Group cut their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. BMO Capital Markets boosted their price objective on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, TD Cowen increased their target price on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.