LaSalle St. Investment Advisors LLC Takes $1.58 Million Position in CSX Corporation $CSX

Key Points

• LaSalle St. Investment Advisors acquired 33,225 CSX shares worth approximately $1.58 million in the second quarter. Institutional investors and hedge funds collectively own 73.57% of the company.
• 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, equivalent to a 1.1% annual yield.
• CSX shares opened at $50.97, near their 12-month high of $53.60. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $51.31, although company insiders sold more than $9.1 million in stock during the last quarter.

LaSalle St. Investment Advisors LLC purchased a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 33,225 shares of the transportation company's stock, valued at approximately $1,579,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in CSX during the 2nd quarter worth about $27,000. WFA of San Diego LLC acquired a new position in shares of CSX in the 2nd quarter valued at $28,000. Arlington Trust Co LLC grew 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 buying an additional 250 shares during the period. Wilkerson Advisory Group LLC grew its holdings in CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock valued at $34,000 after purchasing an additional 409 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of CSX in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Insider Transactions at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael S. Burns sold 13,000 shares of the firm's stock in a transaction that occurred on 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 represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 189,708 shares of company stock worth $9,132,304 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.

CSX Price Performance

NASDAQ:CSX opened at $50.97 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock's 50 day moving average price is $49.30 and its two-hundred day moving average price is $45.11. The firm has a market capitalization of $94.42 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 2.31 and a beta of 1.21. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last posted its 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. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the firm earned $0.44 EPS. The firm's revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company 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 dividend payout ratio is currently 32.37%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citizens Jmp began coverage on shares of CSX in a report on Wednesday, July 15th. They set a "market perform" rating on the stock. Argus set a $56.00 price objective on CSX in a research report on Friday, July 31st. Barclays reiterated an "overweight" rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their target price on CSX from $56.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, Truist Financial set a $46.00 target price on CSX in a research note on Friday, July 10th. 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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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