Vista Investment Management bought a new position in CSX Corporation (NASDAQ:CSX – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,822 shares of the transportation company’s stock, valued at approximately $1,275,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in CSX in the 2nd quarter worth about $27,000. WFA of San Diego LLC acquired a new position in shares of CSX during the 2nd quarter worth $28,000. Arlington Trust Co LLC boosted its holdings in CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC increased its position in 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 buying an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in CSX during the second quarter valued at about $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $54.00 target price (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $59.00 price objective on shares of CSX in a research note on Friday, July 24th. Robert W. Baird lifted their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, Morgan Stanley set a $32.00 target price on CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.31.
CSX Trading Up 1.2%
Shares of NASDAQ CSX opened at $51.59 on Friday. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a 50-day moving average of $49.38 and a two-hundred day moving average of $45.15. The company has a market cap of $95.57 billion, a PE ratio of 29.82, a P/E/G ratio of 2.36 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.
CSX (NASDAQ:CSX – Get Free Report) last posted its quarterly 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. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.
CSX Announces Dividend
The business also recently declared 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s dividend payout ratio is 32.37%.
Insider Buying and Selling
In related news, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was 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 approximately $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.
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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