Cullinan Associates Inc. Has $334,000 Position in CSX Co. (NASDAQ:CSX)

Cullinan Associates Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,000 shares of the transportation company’s stock after selling 400 shares during the quarter. Cullinan Associates Inc.’s holdings in CSX were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CSX. 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 stake in shares of CSX during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX during the 1st quarter valued at $29,000. Burkett Financial Services LLC bought a new stake in shares of CSX during the 4th quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of CSX during the 4th quarter valued at $34,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group cut their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. UBS Group dropped their price objective on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Stifel Nicolaus upped their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

CSX Stock Up 0.5 %

Shares of NASDAQ:CSX opened at $33.76 on Wednesday. The business’s 50 day simple moving average is $33.44 and its two-hundred day simple moving average is $35.14. The firm has a market cap of $66.00 billion, a P/E ratio of 18.55, a PEG ratio of 1.73 and a beta of 1.20. 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 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, research analysts forecast that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. CSX’s dividend payout ratio is presently 26.37%.

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.