AssuredPartners Investment Advisors LLC Takes Position in CSX Corporation $CSX

Key Points

• AssuredPartners Investment Advisors acquired 118,423 CSX shares worth approximately $5.63 million in the second quarter. Institutional investors collectively own 73.57% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy, seven Hold and one Sell rating. CSX has a consensus “Moderate Buy” rating and an average price target of $51.31.
• CSX exceeded quarterly expectations with adjusted earnings of $0.54 per share and revenue of $3.94 billion, up 10.1% year over year. The company also declared a quarterly dividend of $0.14 per share, representing a 1.1% annual yield.

AssuredPartners Investment Advisors LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 118,423 shares of the transportation company's stock, valued at approximately $5,629,000.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. N.E.W. Advisory Services LLC acquired a new position in CSX during the second quarter worth about $27,000. WFA of San Diego LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $28,000. Arlington Trust Co LLC raised its position 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 worth $32,000 after purchasing an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC raised its position 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 worth $34,000 after purchasing an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in CSX in the 2nd quarter valued at approximately $34,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the subject of a number of recent research reports. Morgan Stanley set a $32.00 price objective on CSX and gave the stock an "underweight" rating in a research report on Monday, July 6th. Citizens Jmp assumed coverage on shares of CSX in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $54.00 price target (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Evercore set a $51.00 price objective on shares of CSX in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group upped their price objective on shares of CSX from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $51.31.

CSX Trading Up 0.9%

NASDAQ CSX opened at $50.68 on Thursday. The firm has a market capitalization of $93.88 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.29 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 Corporation has a one year low of $31.80 and a one year high of $53.60. The company's 50 day moving average price is $49.23 and its 200 day moving average price is $45.01.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data 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 net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. CSX's revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX's dividend payout ratio is 32.37%.

Insider Buying and Selling

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the company's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president directly owned 59,643 shares of the company's stock, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. 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 90 days. 0.30% of the stock is currently owned by company insiders.

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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