Tocqueville Asset Management L.P. purchased a new position in shares of CSX Corporation (NASDAQ:CSX – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 17,352 shares of the transportation company’s stock, valued at approximately $825,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after buying an additional 849 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 2,281 shares in the last quarter. WFA of San Diego LLC acquired a new position in shares of CSX during the second quarter worth about $28,000. Captrust Financial Advisors raised its holdings in CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after purchasing an additional 3,162 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after purchasing an additional 27,280 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.
CSX Stock Up 0.6%
CSX opened at $50.97 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The company has a market cap of $94.42 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 2.31 and a beta of 1.21. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The business’s fifty day moving average is $49.30 and its two-hundred day moving average is $45.11.
CSX Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s payout ratio is presently 32.37%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Rothschild & Co Redburn raised their price target on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. Jefferies Financial Group lifted their price target on CSX from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Finally, New Street Research set a $49.00 price objective on CSX in a research report on Thursday, April 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.31.
Read Our Latest Stock Report on CSX
Insider Buying and Selling at CSX
In other CSX news, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, the director owned 353,714 shares in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is currently owned by insiders.
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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