CSX Corporation $CSX Shares Sold by HORAN Wealth LLC

HORAN Wealth LLC trimmed its stake in CSX Corporation (NASDAQ:CSXFree Report) by 49.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,302 shares of the transportation company’s stock after selling 28,940 shares during the quarter. HORAN Wealth LLC’s holdings in CSX were worth $1,393,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Archer Investment Corp bought a new position in shares of CSX during the second quarter worth about $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the 2nd quarter worth about $27,000. WFA of San Diego LLC bought a new stake in CSX in the 2nd quarter valued at about $28,000. Pin Oak Investment Advisors Inc. bought a new stake in CSX in the 2nd quarter valued at about $29,000. Finally, Manning & Napier Advisors LLC acquired a new position in CSX during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $49.41 on Monday. 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 firm’s 50 day moving average is $50.16 and its 200-day moving average is $45.89. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The stock has a market capitalization of $91.53 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.32 and a beta of 1.21.

CSX (NASDAQ:CSXGet Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business 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 business earned $0.44 earnings per share. Equities research analysts anticipate that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio is 32.37%.

Analysts Set New Price Targets

CSX has been the topic of several analyst reports. TD Cowen raised their price target on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Susquehanna raised CSX from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $50.00 to $58.00 in a report on Tuesday, July 14th. Raymond James Financial restated an “outperform” rating and issued a $56.00 target price on shares of CSX in a research report on Monday, July 13th. Evercore set a $51.00 price target on CSX in a report on Thursday, July 23rd. Finally, 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 note on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.31.

Check Out Our Latest Stock Analysis on CSX

Insider Buying and Selling at CSX

In other news, CAO Angela Williams sold 30,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the sale, the chief accounting officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

CSX Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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