Gables Capital Management Inc. purchased a new stake in CSX Corporation (NASDAQ:CSX – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,800 shares of the transportation company’s stock, valued at approximately $608,000.
Other hedge funds have also added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new position in CSX during the second quarter worth $7,609,000. Foster & Motley Inc. bought a new position in shares of CSX in the second quarter valued at about $1,641,000. Strategic Wealth Advisors LLC bought a new position in shares of CSX in the second quarter valued at about $79,000. Main Street Financial Solutions LLC lifted its stake in shares of CSX by 9.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,115 shares of the transportation company’s stock worth $291,000 after buying an additional 540 shares during the last quarter. Finally, First National Bank of Omaha acquired a new stake in shares of CSX during the 2nd quarter worth about $6,248,000. Institutional investors and hedge funds own 73.57% of the company’s stock.
Insider Activity
In other news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the transaction, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $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. Over the last ninety days, insiders have sold 189,708 shares of company stock valued at $9,132,304. Corporate insiders own 0.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on CSX
CSX Price Performance
Shares of NASDAQ CSX opened at $50.24 on Wednesday. The stock has a market capitalization of $93.07 billion, a PE ratio of 29.04, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The business has a fifty day moving average price of $49.14 and a two-hundred day moving average price of $44.92. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60.
CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. As a group, equities analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.
CSX Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a yield of 1.1%. CSX’s dividend 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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