Royal Fund Management LLC Sells 4,739 Shares of CSX Co. (NASDAQ:CSX)

Royal Fund Management LLC trimmed its position in CSX Co. (NASDAQ:CSX) by 39.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,226 shares of the transportation company’s stock after selling 4,739 shares during the period. Royal Fund Management LLC’s holdings in CSX were worth $242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX in the 1st quarter valued at about $29,000. Burkett Financial Services LLC bought a new position in shares of CSX in the 4th quarter valued at about $34,000. Tortoise Investment Management LLC bought a new position in shares of CSX in the 4th quarter valued at about $35,000. Valued Wealth Advisors LLC grew its holdings in shares of CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares in the last quarter. Finally, Voisard Asset Management Group Inc. bought a new position in shares of CSX in the 4th quarter valued at about $39,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Price Performance

CSX traded down $0.21 during trading on Friday, hitting $33.42. 9,870,518 shares of the stock traded hands, compared to its average volume of 11,812,768. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a market cap of $65.33 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.89 and a beta of 1.20. 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 50 day moving average price of $33.63 and a 200 day moving average price of $34.96.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts forecast that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s payout ratio is presently 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.