Royal Fund Management LLC Sells 3,915 Shares of CSX Co. (NASDAQ:CSX)

Royal Fund Management LLC trimmed its holdings in CSX Co. (NASDAQ:CSX) by 22.6% in the 4th quarter, Holdings Channel reports. The fund owned 13,396 shares of the transportation company’s stock after selling 3,915 shares during the quarter. Royal Fund Management LLC’s holdings in CSX were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. High Net Worth Advisory Group LLC increased its stake in shares of CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC raised its holdings in CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after buying an additional 304 shares during the last quarter. Cornercap Investment Counsel Inc. raised its holdings in CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after buying an additional 309 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in CSX by 2.4% in the 3rd quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock valued at $434,000 after buying an additional 349 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in CSX by 2.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock valued at $552,000 after buying an additional 352 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Bank of America decreased their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Susquehanna increased their target price on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Finally, TD Cowen increased their target price on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

CSX Stock Up 0.8 %

NASDAQ CSX traded up $0.28 during mid-day trading on Friday, hitting $33.85. The company’s stock had a trading volume of 6,618,097 shares, compared to its average volume of 14,806,096. The company’s 50 day simple moving average is $36.23 and its 200 day simple moving average is $34.54. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $66.17 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.01 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm posted $0.48 EPS. CSX’s revenue was down .8% compared to the same quarter last year. Analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s payout ratio is presently 26.37%.

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.