First United Bank Trust Reduces Stock Position in CSX Co. (NASDAQ:CSX)

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First United Bank Trust decreased its position in shares of CSX Co. (NASDAQ:CSX) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,273 shares of the transportation company’s stock after selling 4,298 shares during the quarter. CSX makes up about 1.2% of First United Bank Trust’s holdings, making the stock its 25th largest position. First United Bank Trust’s holdings in CSX were worth $1,889,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Krane Funds Advisors LLC purchased a new position in shares of CSX during the second quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of CSX by 88.5% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 426 shares of the transportation company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of CSX during the second quarter worth about $32,000. Kavar Capital Partners LLC purchased a new position in shares of CSX during the second quarter worth about $35,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of CSX during the second quarter worth about $36,000. 75.71% of the stock is currently owned by institutional investors.

NASDAQ CSX opened at $69.05 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. CSX Co. has a 52-week low of $58.47 and a 52-week high of $80.73. The business’s 50-day moving average price is $68.00 and its 200 day moving average price is $73.20. The firm has a market cap of $55.11 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.24 and a beta of 1.24.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. CSX’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. As a group, analysts anticipate that CSX Co. will post 4.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.96 dividend on an annualized basis and a yield of 1.39%. CSX’s payout ratio is currently 25.00%.

Several equities analysts have issued reports on the company. Raymond James dropped their price objective on CSX from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Cowen reissued a “market perform” rating and set a $78.00 price target (down previously from $80.00) on shares of CSX in a report on Wednesday, July 17th. Cascend Securities lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. TD Securities lowered their price target on CSX from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered CSX from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $76.00 in a report on Friday, October 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the stock. CSX currently has an average rating of “Hold” and a consensus price target of $77.82.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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