Callan Family Office LLC Takes Position in CSX Corporation $CSX

Callan Family Office LLC purchased a new stake in CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 45,678 shares of the transportation company's stock, valued at approximately $2,171,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after buying an additional 849 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in CSX by 3.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company's stock worth $2,428,000 after buying an additional 2,281 shares in the last quarter. WFA of San Diego LLC acquired a new position in shares of CSX during the second quarter valued at approximately $28,000. Captrust Financial Advisors raised 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 valued at $13,242,000 after acquiring an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company's stock valued at $5,268,000 after acquiring an additional 27,280 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSX. Raymond James Financial reaffirmed an "outperform" rating and issued a $56.00 price target on shares of CSX in a research note on Monday, July 13th. Rothschild & Co Redburn increased their price objective on CSX from $45.50 to $47.50 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price objective on CSX from $50.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Citigroup lifted their target price on shares of CSX from $53.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Finally, Stephens began coverage on shares of CSX in a report on Wednesday, July 8th. They set an "overweight" rating and a $57.00 target price for the company. Eighteen 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.31.

CSX Stock Performance

Shares of CSX stock opened at $51.59 on Friday. The business's 50 day moving average price is $49.38 and its 200 day moving average price is $45.15. The company has a market cap of $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.36 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.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the prior year, the business earned $0.44 EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued 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 is currently 32.37%.

Insider Activity

In related news, CAO Angela C. Williams sold 30,000 shares of the firm'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 completion of the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source