Stock Yards Bank & Trust Co. Decreases Stock Holdings in CSX Co. (NASDAQ:CSX)

Stock Yards Bank & Trust Co. reduced its position in shares of CSX Co. (NASDAQ:CSX) by 12.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 80,658 shares of the transportation company’s stock after selling 10,964 shares during the period. Stock Yards Bank & Trust Co.’s holdings in CSX were worth $2,796,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CSX. RFG Advisory LLC lifted its position in shares of CSX by 3.4% during the 3rd quarter. RFG Advisory LLC now owns 21,208 shares of the transportation company’s stock worth $652,000 after purchasing an additional 695 shares during the last quarter. Park Place Capital Corp raised its stake in CSX by 12.1% during the 3rd quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock worth $94,000 after acquiring an additional 330 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in CSX by 1.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 313,677 shares of the transportation company’s stock worth $9,768,000 after acquiring an additional 3,834 shares in the last quarter. Summit Financial Group Inc. raised its stake in CSX by 1.3% during the 3rd quarter. Summit Financial Group Inc. now owns 115,024 shares of the transportation company’s stock worth $3,537,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its stake in CSX by 89.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 22,956 shares of the transportation company’s stock worth $706,000 after acquiring an additional 10,862 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 0.8 %

Shares of CSX stock opened at $34.62 on Tuesday. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. 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 company’s 50-day simple moving average is $36.83 and its 200-day simple moving average is $34.43. The firm has a market cap of $67.68 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the business posted $0.48 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

CSX has been the topic of several research analyst reports. UBS Group cut their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Thursday, April 18th. Royal Bank of Canada cut their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.