CSX Co. (NASDAQ:CSX) Position Lessened by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC decreased its stake in CSX Co. (NASDAQ:CSX) by 67.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,768 shares of the transportation company’s stock after selling 20,470 shares during the period. SeaCrest Wealth Management LLC’s holdings in CSX were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in CSX by 2,992.9% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 125,941 shares of the transportation company’s stock valued at $4,669,000 after acquiring an additional 121,869 shares in the last quarter. Tributary Capital Management LLC raised its stake in CSX by 10.6% during the 1st quarter. Tributary Capital Management LLC now owns 20,900 shares of the transportation company’s stock valued at $775,000 after acquiring an additional 2,000 shares in the last quarter. Oak Thistle LLC raised its stake in CSX by 176.9% during the 1st quarter. Oak Thistle LLC now owns 22,764 shares of the transportation company’s stock valued at $844,000 after acquiring an additional 14,544 shares in the last quarter. Claro Advisors LLC bought a new stake in CSX during the 1st quarter valued at $211,000. Finally, Miracle Mile Advisors LLC raised its stake in CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after acquiring an additional 303 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CSX shares. Royal Bank of Canada cut their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Susquehanna lowered their price target on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research report on Tuesday, June 25th. UBS Group lowered their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company assumed coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group lowered their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.59.

CSX Stock Performance

Shares of CSX stock opened at $33.55 on Thursday. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.73 and a beta of 1.20. The stock’s fifty day simple moving average is $33.42 and its 200-day simple moving average is $35.13.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts predict that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.12 per share. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s dividend payout ratio is 26.37%.

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.