CSX Corporation $CSX Shares Sold by HORAN Wealth LLC

Key Points

• HORAN Wealth LLC cut its CSX stake by 49.7% in the second quarter, selling 28,940 shares and retaining 29,302 shares valued at approximately $1.39 million. Institutional investors collectively own 73.57% of CSX.
• Analyst sentiment remains favorable, with 18 Buy ratings, seven Holds and one Sell; the stock carries a “Moderate Buy” consensus rating and an average price target of $51.31.
• CSX reported quarterly EPS of $0.54 and revenue of $3.94 billion, exceeding estimates, while revenue rose 10.1% year over year. The company also declared a quarterly dividend of $0.14 per share, equivalent to a 1.1% annual yield.

HORAN Wealth LLC cut its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 49.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 29,302 shares of the transportation company's stock after selling 28,940 shares during the period. HORAN Wealth LLC's holdings in CSX were worth $1,393,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CSX. Archer Investment Corp acquired a new stake in shares of CSX during the second quarter worth $26,000. N.E.W. Advisory Services LLC acquired a new position in CSX in the second quarter valued at $27,000. WFA of San Diego LLC purchased a new position in CSX during the second quarter worth about $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in CSX in the 2nd quarter valued at about $29,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of CSX during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

CSX has been the topic of several research analyst reports. Bank of America raised their target price on shares of CSX from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of CSX from $56.00 to $58.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Citigroup boosted their price objective on shares of CSX from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Susquehanna raised shares of CSX from a "neutral" rating to a "positive" rating and boosted their price objective for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Finally, Morgan Stanley set a $32.00 price objective on CSX and gave the stock an "underweight" rating in a report on Monday, July 6th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.31.

Insider Buying and Selling at CSX

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

CSX Stock Performance

Shares of CSX stock opened at $49.41 on Monday. 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 1 year low of $31.80 and a 1 year high of $53.60. The firm's 50-day simple moving average is $50.16 and its 200-day simple moving average is $45.89. The firm has a market cap of $91.53 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion during 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%.The company's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. Equities analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.14 dividend. 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 payout ratio is currently 32.37%.

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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