Truvestments Capital LLC Cuts Position in CSX Co. (NASDAQ:CSX)

Truvestments Capital LLC lowered its position in shares of CSX Co. (NASDAQ:CSX) by 38.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,265 shares of the transportation company’s stock after selling 2,002 shares during the quarter. Truvestments Capital LLC’s holdings in CSX were worth $121,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miracle Mile Advisors LLC grew its position in shares of CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after buying an additional 303 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in shares of CSX by 1.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 304 shares during the last quarter. Team Hewins LLC raised its position in shares of CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after purchasing an additional 306 shares during the period. Cornercap Investment Counsel Inc. lifted its holdings in shares of CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares during the last quarter. Finally, FCA Corp TX boosted its position in CSX by 0.3% during the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock valued at $4,007,000 after purchasing an additional 339 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock traded up $0.72 during mid-day trading on Friday, hitting $34.32. 9,975,650 shares of the stock traded hands, compared to its average volume of 10,388,902. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The company’s 50-day simple moving average is $33.45 and its 200-day simple moving average is $35.05. The firm has a market cap of $67.09 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, August 30th. CSX’s payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

CSX has been the topic of several analyst reports. Stifel Nicolaus increased their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. 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 price objective on the stock. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Royal Bank of Canada decreased their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Finally, Susquehanna cut their price target on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a report on Tuesday, June 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.14.

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.