TFG Advisers LLC Sells 499 Shares of CSX Co. (NASDAQ:CSX)

TFG Advisers LLC cut its holdings in CSX Co. (NASDAQ:CSX) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,507 shares of the transportation company’s stock after selling 499 shares during the period. TFG Advisers LLC’s holdings in CSX were worth $204,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Miracle Mile Advisors LLC grew its holdings in shares of CSX by 0.3% in the first 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. High Net Worth Advisory Group LLC grew its holdings in CSX by 1.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 304 shares during the period. Stratos Wealth Advisors LLC grew its holdings in CSX by 1.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 304 shares during the period. Team Hewins LLC grew its holdings in CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares during the period. Finally, Cornercap Investment Counsel Inc. grew its holdings in CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after purchasing an additional 309 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday. Susquehanna reduced their price objective on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada cut their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Finally, Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.39.

CSX Price Performance

NASDAQ CSX traded up $0.17 during trading hours on Friday, reaching $33.91. 1,408,782 shares of the stock traded hands, compared to its average volume of 11,776,400. The stock has a 50 day simple moving average of $33.37 and a two-hundred day simple moving average of $35.07. CSX Co. has a 1 year low of $29.03 and a 1 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 company has a market cap of $66.29 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20.

CSX (NASDAQ:CSX) last released 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 last year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given 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 yield of 1.42%. CSX’s payout ratio is 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.