First PREMIER Bank Cuts Stock Position in CSX Corporation (NASDAQ:CSX)

First PREMIER Bank lowered its position in CSX Corporation (NASDAQ:CSX) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 78,512 shares of the transportation company’s stock after selling 725 shares during the quarter. First PREMIER Bank’s holdings in CSX were worth $2,311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSX. Brighton Jones LLC grew its position in shares of CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after buying an additional 849 shares during the last quarter. Principal Securities Inc. grew its position in shares of CSX by 6.4% in the 4th quarter. Principal Securities Inc. now owns 26,933 shares of the transportation company’s stock worth $869,000 after buying an additional 1,614 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of CSX by 3.9% in the 4th quarter. Sanctuary Advisors LLC now owns 172,846 shares of the transportation company’s stock worth $5,680,000 after buying an additional 6,465 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of CSX by 28.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 75,679 shares of the transportation company’s stock worth $2,442,000 after buying an additional 16,551 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of CSX in the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX opened at $32.06 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The firm has a fifty day moving average price of $30.16 and a 200 day moving average price of $31.13. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The stock has a market cap of $60.23 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.82 and a beta of 1.24.

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

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, May 30th. CSX’s dividend payout ratio is presently 31.14%.

Analyst Upgrades and Downgrades

CSX has been the topic of several research analyst reports. Raymond James Financial reissued an “outperform” rating and set a $33.00 target price (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Stifel Nicolaus dropped their target price on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Bank of America boosted their target price on shares of CSX from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, June 13th. Finally, Susquehanna dropped their target price on shares of CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.

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.