First Financial Bank Trust Division Trims Position in CSX Co. (NASDAQ:CSX)

First Financial Bank Trust Division cut its position in CSX Co. (NASDAQ:CSX) by 22.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,458 shares of the transportation company’s stock after selling 2,170 shares during the period. First Financial Bank Trust Division’s holdings in CSX were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ascent Group LLC grew its stake in CSX by 559.7% during the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after acquiring an additional 49,869 shares in the last quarter. International Assets Investment Management LLC lifted its position in CSX by 3,241.9% during the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock valued at $8,158,000 after purchasing an additional 228,263 shares during the last quarter. PFG Advisors lifted its position in CSX by 2.1% during the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after purchasing an additional 387 shares during the last quarter. Partners Group Holding AG lifted its position in CSX by 26.8% during the fourth quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after purchasing an additional 149,105 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CSX by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after purchasing an additional 34,730 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several analyst reports. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Susquehanna lowered their target price on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. UBS Group lowered their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Wells Fargo & Company initiated coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.14.

CSX Stock Performance

NASDAQ CSX traded down $1.08 on Monday, hitting $33.00. 18,630,886 shares of the company’s stock traded hands, compared to its average volume of 11,834,943. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The firm’s 50-day moving average price is $33.56 and its two-hundred day moving average price is $35.05. The firm has a market capitalization of $64.51 billion, a PE ratio of 18.31, a P/E/G ratio of 1.89 and a beta of 1.20.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the business posted $0.49 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts expect that CSX Co. will post 1.94 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is presently 26.37%.

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.