AMG National Trust Bank purchased a new stake in CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,002 shares of the transportation company's stock, valued at approximately $2,044,000.
A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after acquiring an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in CSX by 3.2% in the second 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 in the last quarter. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter worth about $28,000. Captrust Financial Advisors grew its holdings in shares of CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company's stock worth $13,242,000 after purchasing 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 valued at $5,268,000 after purchasing an additional 27,280 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.
CSX Stock Performance
NASDAQ CSX opened at $50.16 on Monday. 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 stock has a market capitalization of $92.92 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.29 and a beta of 1.21. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The firm has a 50-day moving average price of $49.02 and a 200 day moving average price of $44.74.
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 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 company had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts expect that CSX Corporation will post 2 EPS for the current year.
CSX Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX's payout ratio is presently 32.37%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Morgan Stanley set a $32.00 price target on CSX and gave the stock an "underweight" rating in a research note on Monday, July 6th. New Street Research set a $49.00 target price on shares of CSX in a research report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. Bank of America upped their price target on shares of CSX from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, Vertical Research cut shares of CSX from a "buy" rating to a "hold" rating and set a $44.00 price target for the company. in a research note on Thursday, April 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CSX presently has an average rating of "Moderate Buy" and a consensus price target of $51.31.
Get Our Latest Analysis on CSX
Insider Activity at CSX
In other CSX news, CAO Angela C. Williams sold 30,000 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction that occurred 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 sale, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 189,708 shares of company stock valued at $9,132,304. Company insiders own 0.30% of the company's stock.
CSX Company Profile
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Free Report)
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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