RB Capital Management LLC purchased a new stake in CSX Corporation (NASDAQ:CSX – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 20,031 shares of the transportation company’s stock, valued at approximately $952,000.
Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in CSX by 5.5% during the fourth 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 period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of CSX by 3.2% in 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 acquiring an additional 2,281 shares during the period. WFA of San Diego LLC purchased a new stake in shares of CSX in the 2nd quarter valued at approximately $28,000. Captrust Financial Advisors lifted its holdings in shares of CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after acquiring an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of 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 acquiring an additional 27,280 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of CSX 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 completion of the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 189,708 shares of company stock valued at $9,132,304 in the last three months. 0.30% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on CSX
CSX Trading Down 0.5%
Shares of CSX stock opened at $51.28 on Friday. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The company has a 50 day moving average price of $49.91 and a 200 day moving average price of $45.57. The stock has a market capitalization of $94.99 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.
CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts predict 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. 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 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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