Family Legacy Inc. Takes Position in CSX Corporation $CSX

Key Points

• Family Legacy Inc. purchased 65,977 CSX shares during the second quarter, valued at approximately $3.14 million. Institutional investors collectively own 73.57% of CSX.
• CSX reported quarterly earnings of $0.54 per share, exceeding estimates by $0.02, while revenue rose 10.1% year over year to $3.94 billion.
• The company declared a quarterly dividend of $0.14 per share, representing an annualized dividend of $0.56 and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $51.31.

Family Legacy Inc. purchased a new position in CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 65,977 shares of the transportation company's stock, valued at approximately $3,136,000.

Several other large investors also recently modified their holdings of the company. Arlington Trust Co LLC increased its position in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock valued at $32,000 after acquiring an additional 250 shares during the last quarter. Syon Capital LLC boosted its position in CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company's stock worth $1,026,000 after purchasing an additional 287 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of CSX by 7.3% during the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company's stock valued at $172,000 after purchasing an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC grew its stake in shares of CSX by 2.7% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company's stock valued at $480,000 after purchasing an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. increased its position in shares of CSX by 0.9% during the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company's stock valued at $1,450,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

Insiders Place Their Bets

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the firm's 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 sale, the senior vice president directly owned 59,643 shares of the company's stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is currently owned by corporate insiders.

CSX Price Performance

NASDAQ CSX opened at $50.16 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The stock has a market cap of $92.92 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.29 and a beta of 1.21. The company's 50 day moving average is $49.02 and its two-hundred day moving average is $44.69.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share 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 analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company's revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.1%. CSX's dividend payout ratio is currently 32.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of CSX from $53.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Vertical Research cut shares of CSX from a "buy" rating to a "hold" rating and set a $44.00 target price for the company. in a report on Thursday, April 23rd. TD Cowen increased their price target on shares of CSX from $46.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price target on shares of CSX in a research note on Thursday, July 23rd. Finally, Stephens started coverage on CSX in a research note on Wednesday, July 8th. They issued an "overweight" rating and a $57.00 price objective for the company. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.31.

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.

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