58,939 Shares in CSX Corporation $CSX Purchased by Vise Technologies Inc.

Key Points

• Vise Technologies purchased 58,939 CSX shares during the second quarter, valued at approximately $2.8 million. Institutional investors collectively own 73.57% of CSX.
• CSX exceeded quarterly expectations, reporting $0.54 in earnings per share versus the $0.52 consensus estimate, while revenue rose 10.1% year over year to $3.94 billion.
• The company declared a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $51.31.

Vise Technologies Inc. purchased a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 58,939 shares of the transportation company's stock, valued at approximately $2,801,000.

A number of other large investors have also recently made changes to their positions in the stock. Canada Post Corp Registered Pension Plan lifted its position in CSX by 34.2% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company's stock valued at $3,498,000 after purchasing an additional 24,566 shares during the period. M. Kulyk & Associates LLC purchased a new stake in CSX in the second quarter worth approximately $8,145,000. Wealthfront Advisers LLC purchased a new stake in CSX in the second quarter worth approximately $7,609,000. First National Bank of Omaha bought a new stake in CSX in the 2nd quarter worth approximately $6,248,000. Finally, M3 Wealth Management LLC purchased a new stake in CSX during the 2nd quarter valued at $3,373,000. 73.57% of the stock is currently owned by institutional investors.

Insider Activity

In other CSX news, SVP Michael S. Burns sold 13,000 shares of CSX 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 transaction, the senior vice president owned 59,643 shares of the company's stock, valued at $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 is available through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 353,714 shares of the company's stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 in the last quarter. 0.30% of the stock is currently owned by insiders.

CSX Stock Performance

Shares of CSX opened at $51.59 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The business has a 50-day simple moving average of $49.38 and a two-hundred day simple moving average of $45.15. The stock has a market cap of $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.33 and a beta of 1.21. CSX Corporation has a 52 week low of $31.80 and a 52 week 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. The ex-dividend date 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 presently 32.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets reissued a "market perform" rating and set a $52.00 price target (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Argus set a $56.00 price objective on CSX in a report on Friday, July 31st. Wells Fargo & Company upped their price objective on CSX from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Wall Street Zen downgraded CSX from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, TD Cowen raised their target price on CSX from $46.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.31.

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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