Shell Asset Management Co. Reduces Stock Holdings in CSX Co. (NASDAQ:CSX)

Shell Asset Management Co. cut its position in shares of CSX Co. (NASDAQ:CSX) by 42.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,500 shares of the transportation company’s stock after selling 26,719 shares during the period. Shell Asset Management Co.’s holdings in CSX were worth $1,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in CSX in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX during the first quarter valued at about $29,000. Valued Wealth Advisors LLC raised its stake 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 during the period. Burkett Financial Services LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the 4th quarter valued at approximately $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent research reports. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Jefferies Financial Group cut their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Sanford C. Bernstein increased their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. UBS Group lowered their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $38.14.

CSX Stock Performance

CSX stock traded up $0.83 during trading on Friday, hitting $34.43. The company had a trading volume of 3,814,019 shares, compared to its average volume of 11,766,548. The firm has a 50-day moving average price of $33.43 and a 200-day moving average price of $35.05. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm has a market cap of $67.31 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX Dividend Announcement

The company also recently disclosed 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 1.39%. CSX’s payout ratio is currently 26.37%.

CSX 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.