Fulton Bank N.A. Sells 531 Shares of CSX Co. (NASDAQ:CSX)

Fulton Bank N.A. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,466 shares of the transportation company’s stock after selling 531 shares during the quarter. Fulton Bank N.A.’s holdings in CSX were worth $1,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSX. Fortitude Family Office LLC purchased a new position in shares of CSX in the 4th quarter worth about $27,000. Life Planning Partners Inc purchased a new position in shares of CSX in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX in the 4th quarter worth about $34,000. Burkett Financial Services LLC purchased a new position in shares of CSX in the 4th quarter worth about $34,000. Finally, Avion Wealth boosted its holdings in shares of 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 last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock traded up $0.28 during midday trading on Thursday, hitting $33.31. The company’s stock had a trading volume of 10,798,799 shares, compared to its average volume of 11,876,884. CSX Co. has a 12 month low of $29.03 and a 12 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. The firm has a market capitalization of $65.12 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.71 and a beta of 1.19. The company has a 50 day moving average of $33.65 and a two-hundred day moving average of $35.12.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is 26.37%.

Analyst Ratings Changes

Several research firms have commented on CSX. Stifel Nicolaus upped their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Wells Fargo & Company assumed coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Bank of America decreased their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada decreased 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 report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.82.

About CSX

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.