EP Wealth Advisors LLC Lowers Position in CSX Co. (NASDAQ:CSX)

EP Wealth Advisors LLC decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,583 shares of the transportation company’s stock after selling 5,074 shares during the quarter. EP Wealth Advisors LLC’s holdings in CSX were worth $1,727,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CSX. Life Planning Partners Inc purchased a new position in shares of CSX in the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter valued at approximately $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX during the fourth quarter worth approximately $34,000. Burkett Financial Services LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $34,000. Finally, Avion Wealth boosted its stake in shares of CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 820 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSX. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Wells Fargo & Company started coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday, July 8th. Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Finally, Susquehanna cut their target price on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research note on Tuesday, June 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.14.

CSX Stock Up 2.1 %

NASDAQ:CSX traded up $0.72 during mid-day trading on Friday, hitting $34.32. 9,975,650 shares of the company’s stock were exchanged, compared to its average volume of 10,388,902. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The business has a fifty day moving average price of $33.45 and a 200 day moving average price of $35.04. The company has a market cap of $67.09 billion, a PE ratio of 18.86, a P/E/G ratio of 1.82 and a beta of 1.20.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is currently 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.