Bangor Savings Bank Decreases Holdings in CSX Co. (NASDAQ:CSX)

Bangor Savings Bank cut its stake in shares of CSX Co. (NASDAQ:CSX) by 30.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,291 shares of the transportation company’s stock after selling 4,500 shares during the period. Bangor Savings Bank’s holdings in CSX were worth $381,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in shares of CSX during the 4th quarter valued at $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter worth $27,000. Burkett Financial Services LLC bought a new position in CSX in the 4th quarter worth $34,000. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the 4th quarter worth $34,000. Finally, Avion Wealth boosted its holdings in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock opened at $33.41 on Monday. The company has a 50 day moving average price of $33.61 and a 200-day moving average price of $35.14. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a market capitalization of $65.31 billion, a PE ratio of 18.36, a P/E/G ratio of 1.72 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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. The company had revenue of $3.68 billion for 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 company posted $0.48 earnings per share. As a group, equities analysts forecast that CSX Co. will post 1.96 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is 26.37%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Bank of America dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Susquehanna increased their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Finally, Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.82.

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.