Old North State Trust LLC acquired a new position in shares of CSX Corporation (NASDAQ:CSX – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,602 shares of the transportation company’s stock, valued at approximately $932,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after purchasing an additional 849 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in CSX by 3.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 2,281 shares during the period. WFA of San Diego LLC bought a new position in CSX in the 2nd quarter worth about $28,000. Captrust Financial Advisors boosted its position in shares of 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 buying an additional 3,162 shares during the period. Finally, Horizon Investments LLC grew its holdings in CSX by 22.5% in the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after buying an additional 27,280 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on CSX
CSX Trading Down 0.4%
Shares of CSX opened at $51.54 on Friday. The business’s 50-day moving average price is $49.80 and its 200 day moving average price is $45.53. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $95.48 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.36 and a beta of 1.21. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60.
CSX (NASDAQ:CSX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion during 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%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. Analysts expect that CSX Corporation will post 2 earnings per share for the current 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 paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio (DPR) is currently 32.37%.
About CSX
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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