EJMK Ventures LLC acquired a new stake in CSX Corporation (NASDAQ:CSX – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,896 shares of the transportation company’s stock, valued at approximately $518,000.
A number of other large investors have also added to or reduced their stakes in the business. Arlington Trust Co LLC grew its holdings in CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares during the last quarter. Allied Private Wealth LLC bought a new position in shares of CSX during the second quarter valued at $37,000. Wilkerson Advisory Group LLC lifted its holdings in shares of CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after purchasing an additional 409 shares during the period. WFA of San Diego LLC acquired a new position in shares of CSX during the second quarter worth $28,000. Finally, CrossGen Wealth LLC bought a new stake in shares of CSX in the fourth quarter worth $54,000. Institutional investors own 73.57% of the company’s stock.
Analyst Ratings Changes
CSX has been the subject of a number of recent research reports. Bank of America increased their price objective on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. Barclays reiterated an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, New Street Research set a $49.00 price objective on CSX in a research note on Thursday, April 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.31.
Insiders Place Their Bets
In related news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 189,708 shares of company stock valued at $9,132,304 over the last 90 days. 0.30% of the stock is owned by company insiders.
CSX Price Performance
Shares of NASDAQ CSX opened at $50.16 on Friday. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The firm has a fifty day simple moving average of $49.02 and a 200 day simple moving average of $44.69. The company has a market capitalization of $92.92 billion, a PE ratio of 28.99, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.
CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. On average, sell-side analysts forecast that CSX Corporation will post 2 EPS for the current year.
CSX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is currently 32.37%.
CSX Company Profile
CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.
CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.
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