Atlantic Edge Private Wealth Management LLC Has $110,000 Stake in CSX Corporation (NASDAQ:CSX)

Atlantic Edge Private Wealth Management LLC cut its stake in CSX Corporation (NASDAQ:CSX) by 84.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,725 shares of the transportation company’s stock after selling 19,731 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in CSX were worth $110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter valued at approximately $27,000. Accredited Wealth Management LLC acquired a new position in CSX during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX during the 4th quarter worth $31,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX during the 1st quarter worth $30,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. Argus set a $32.00 price target on CSX in a report on Friday, April 25th. Baird R W raised CSX to a “strong-buy” rating in a research note on Tuesday, July 1st. UBS Group lowered their price objective on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Robert W. Baird assumed coverage on shares of CSX in a research report on Tuesday, July 1st. They set an “outperform” rating and a $38.00 price objective for the company. Finally, Jefferies Financial Group lowered their price target on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $34.14.

CSX Price Performance

Shares of NASDAQ:CSX opened at $33.43 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The stock’s 50 day moving average is $31.20 and its 200-day moving average is $31.06. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The firm has a market capitalization of $62.80 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.94 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Sell-side analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX’s payout ratio is currently 31.14%.

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.