Ameritas Investment Partners Inc. Has $2.90 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Ameritas Investment Partners Inc. cut its stake in CSX Co. (NASDAQ:CSX) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,157 shares of the transportation company’s stock after selling 1,196 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in CSX were worth $2,897,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in CSX in the 4th quarter valued at $27,000. Life Planning Partners Inc acquired a new position in shares of CSX in the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter worth about $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the 4th quarter worth about $34,000. Finally, Burkett Financial Services LLC bought a new stake in CSX in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX traded down $0.87 during mid-day trading on Tuesday, hitting $33.64. 10,924,814 shares of the stock traded hands, compared to its average volume of 11,769,382. The company has a market cap of $65.76 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20. 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 current ratio of 1.15 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $33.46 and a two-hundred day simple moving average of $35.08.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, August 30th. CSX’s payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent research reports. UBS Group cut their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Susquehanna cut their target price on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Thursday, April 18th. Finally, Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.07.

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.