McKinley Carter Wealth Services Inc. Sells 8,492 Shares of CSX Co. (NASDAQ:CSX)

McKinley Carter Wealth Services Inc. lessened its holdings in CSX Co. (NASDAQ:CSX) by 38.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,722 shares of the transportation company’s stock after selling 8,492 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in CSX were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in CSX in the fourth quarter valued at approximately $780,194,000. Ameriprise Financial Inc. increased its holdings in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock worth $673,025,000 after purchasing an additional 9,863,587 shares during the period. Bank of New York Mellon Corp increased its holdings in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares in the last quarter. Finally, Fiduciary Management Inc. WI acquired a new position in shares of CSX during the 4th quarter worth about $178,259,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.9%

Shares of NASDAQ CSX opened at $32.32 on Thursday. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The firm has a market cap of $60.71 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 1.92 and a beta of 1.24. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock’s 50-day simple moving average is $29.52 and its 200-day simple moving average is $31.33.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. CSX’s payout ratio is currently 31.14%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSX. Argus set a $32.00 target price on CSX in a research report on Friday, April 25th. UBS Group reduced their price objective on CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Susquehanna cut their target price on CSX from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Thursday, April 17th. Barclays dropped their price objective on CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Bank of America increased their target price on CSX from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $33.95.

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.