20,114 Shares in CSX Corporation $CSX Bought by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management acquired 20,114 CSX shares in the second quarter, valued at approximately $956,000. Institutional investors collectively own 73.57% of the company.
• Analysts remain broadly bullish, with 18 Buy ratings, seven Holds and one Sell; CSX has a “Moderate Buy” consensus rating and an average price target of $51.31.
• CSX exceeded quarterly expectations, reporting $0.54 in EPS and $3.94 billion in revenue, while revenue increased 10.1% year over year. The company also declared a quarterly dividend of $0.14 per share, representing a 1.1% annualized yield.

Clear Harbor Asset Management LLC acquired a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,114 shares of the transportation company's stock, valued at approximately $956,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new position in CSX in the 2nd quarter worth about $27,000. WFA of San Diego LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $28,000. Arlington Trust Co LLC lifted its holdings in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock valued at $32,000 after buying an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC lifted its holdings in shares of CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock valued at $34,000 after buying an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of CSX in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CSX. Benchmark restated a "buy" rating and issued a $54.00 price objective (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Stifel Nicolaus set a $54.00 target price on shares of CSX in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their target price on shares of CSX from $50.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Bank of America boosted their target price on shares of CSX from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Stephens assumed coverage on shares of CSX in a report on Wednesday, July 8th. They set an "overweight" rating and a $57.00 price target on the stock. 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $51.31.

CSX Stock Performance

Shares of NASDAQ CSX opened at $51.59 on Friday. The business's 50-day simple moving average is $49.38 and its 200-day simple moving average is $45.15. 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 Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The firm has a market cap of $95.57 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. As a group, equities research analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given 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 (DPR) is currently 32.37%.

Insider Activity

In related news, CFO Kevin S. Boone sold 136,708 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the sale, the chief financial officer directly owned 208,622 shares of the company's stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the firm's stock in a transaction 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 transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is owned by company 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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