Arkadios Wealth Advisors Raises Stock Position in CSX Corporation $CSX

Arkadios Wealth Advisors boosted its stake in CSX Corporation (NASDAQ:CSX) by 83.4% in the second quarter, HoldingsChannel reports. The firm owned 48,182 shares of the transportation company’s stock after acquiring an additional 21,906 shares during the period. Arkadios Wealth Advisors’ holdings in CSX were worth $1,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CSX. Brighton Jones LLC lifted its holdings in CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 849 shares during the period. Ameritas Advisory Services LLC increased its position in shares of CSX by 4.1% during the 1st quarter. Ameritas Advisory Services LLC now owns 11,709 shares of the transportation company’s stock valued at $360,000 after purchasing an additional 459 shares during the last quarter. Mather Group LLC. increased its position in shares of CSX by 11.2% during the 1st quarter. Mather Group LLC. now owns 9,111 shares of the transportation company’s stock valued at $268,000 after purchasing an additional 918 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of CSX by 6.1% during the 1st quarter. DAVENPORT & Co LLC now owns 182,717 shares of the transportation company’s stock valued at $5,377,000 after purchasing an additional 10,534 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of CSX during the 1st quarter valued at about $28,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 1.1%

CSX opened at $36.02 on Friday. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25. The stock’s fifty day moving average is $34.34 and its two-hundred day moving average is $33.00. The company has a market capitalization of $67.07 billion, a P/E ratio of 23.54, a PEG ratio of 2.75 and a beta of 1.29. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 1.45.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.60 billion. CSX had a net margin of 20.55% and a return on equity of 24.95%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. Analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 28th. CSX’s dividend payout ratio (DPR) is currently 33.99%.

Insider Transactions at CSX

In related news, SVP Michael S. Burns sold 24,249 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $36.76, for a total transaction of $891,393.24. Following the completion of the transaction, the senior vice president owned 51,640 shares in the company, valued at $1,898,286.40. The trade was a 31.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kevin S. Boone sold 31,053 shares of CSX stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the completion of the transaction, the executive vice president directly owned 197,521 shares in the company, valued at $7,128,532.89. This represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several analyst reports. Citigroup lifted their price target on shares of CSX from $41.00 to $42.00 in a research note on Friday, October 17th. Jefferies Financial Group set a $42.00 price target on CSX and gave the stock a “buy” rating in a research report on Friday, October 17th. Barclays restated an “overweight” rating on shares of CSX in a research report on Monday, October 20th. Royal Bank Of Canada increased their target price on shares of CSX from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $39.09.

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.