Aberdeen Wealth Management LLC Makes New Investment in CSX Corporation $CSX

Aberdeen Wealth Management LLC acquired a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,800 shares of the transportation company's stock, valued at approximately $1,036,000.

A number of other large investors have also made changes to their positions in CSX. Canada Post Corp Registered Pension Plan increased its position in shares of 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 bought a new position in CSX in the second quarter worth $8,145,000. Wealthfront Advisers LLC acquired a new stake in CSX during the second quarter worth $7,609,000. First National Bank of Omaha acquired a new stake in CSX during the second quarter worth $6,248,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in CSX in the 2nd quarter valued at $6,598,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Insider Activity

In related news, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares of the company's stock, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Angela C. Williams sold 30,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 10,437 shares of the company's stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 189,708 shares of company stock worth $9,132,304 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

CSX Stock Performance

NASDAQ CSX opened at $51.44 on Tuesday. 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 $49.46 and a 200-day moving average of $45.28. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The firm has a market cap of $95.29 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.CSX's revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal 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 $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX's dividend payout ratio is presently 32.37%.

Analysts Set New Price Targets

CSX has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of CSX from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Stifel Nicolaus set a $54.00 price objective on CSX in a research note on Thursday, July 23rd. BMO Capital Markets reaffirmed a "market perform" rating and issued a $52.00 price target (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Raymond James Financial reiterated an "outperform" rating and issued a $56.00 price target on shares of CSX in a research report on Monday, July 13th. Finally, Susquehanna raised CSX from a "neutral" rating to a "positive" rating and lifted their price objective for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CSX has an average rating of "Moderate Buy" and a consensus target price of $51.31.

CSX 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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