CFO4Life Group LLC Buys New Position in CSX Corporation $CSX

Key Points

• CFO4Life Group LLC acquired 94,036 CSX shares worth approximately $4.47 million in the second quarter, while institutional investors collectively own 73.57% of the company.
• CSX reported quarterly EPS of $0.54, beating estimates by $0.02, with revenue rising 10.1% year over year to $3.94 billion.
• CSX declared a quarterly dividend of $0.14 per share, equal to an annualized $0.56 payout and a 1.1% yield; analysts maintain a “Moderate Buy” consensus rating with an average price target of $51.31.

CFO4Life Group LLC bought a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 94,036 shares of the transportation company's stock, valued at approximately $4,470,000. CSX accounts for approximately 0.6% of CFO4Life Group LLC's portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after purchasing an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of CSX by 3.2% in 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 purchasing an additional 2,281 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of CSX in the 2nd quarter worth approximately $28,000. Captrust Financial Advisors raised its holdings in shares of CSX by 0.8% in the 2nd 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 in the last quarter. Finally, Horizon Investments LLC lifted its stake in 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 purchasing an additional 27,280 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

CSX stock opened at $51.59 on Friday. The firm's 50 day simple moving average is $49.38 and its 200-day simple moving average is $45.15. The company has a market cap of $95.57 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. As a group, equities research analysts predict 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. 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 payout ratio is 32.37%.

Insider Activity

In other news, CAO Angela C. Williams sold 30,000 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer owned 10,437 shares of the company's stock, valued at $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 189,708 shares of company stock valued at $9,132,304 in the last 90 days. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several recent research reports. Wall Street Zen lowered shares of CSX from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Evercore set a $51.00 price objective on CSX in a research report on Thursday, July 23rd. Argus set a $56.00 price objective on CSX in a research note on Friday, July 31st. Benchmark reissued a "buy" rating and set a $54.00 price objective (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $54.00 target price (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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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