Royal Fund Management LLC Sells 1,431 Shares of CSX Co. (NASDAQ:CSX)

Royal Fund Management LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,965 shares of the transportation company’s stock after selling 1,431 shares during the period. Royal Fund Management LLC’s holdings in CSX were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC bought a new stake in CSX in the fourth quarter worth about $27,000. Life Planning Partners Inc bought a new stake in shares of CSX during the 4th quarter worth approximately $27,000. Burkett Financial Services LLC purchased a new position in CSX during the 4th quarter valued at $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX during the fourth quarter valued at $34,000. Finally, Avion Wealth increased its stake in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after buying an additional 820 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ:CSX traded up $0.10 during midday trading on Monday, reaching $33.51. The company’s stock had a trading volume of 470,707 shares, compared to its average volume of 11,838,601. The stock has a fifty day moving average of $33.61 and a 200 day moving average of $35.14. The firm has a market capitalization of $65.51 billion, a PE ratio of 18.36, a P/E/G ratio of 1.72 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month 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.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. On average, equities analysts expect that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s payout ratio is presently 26.37%.

Analyst Upgrades and Downgrades

Several research firms have commented on CSX. Stifel Nicolaus raised their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Jefferies Financial Group lowered their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. UBS Group cut their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company started coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada dropped their price objective 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. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $37.82.

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.