OneDigital Investment Advisors LLC Buys New Stake in CSX Corporation $CSX

Key Points

• OneDigital Investment Advisors acquired 44,033 CSX shares worth approximately $2.1 million during the second quarter. Institutional investors collectively own 73.57% of the company.
• CSX reported quarterly EPS of $0.54, exceeding estimates by $0.02, while revenue rose 10.1% year over year to $3.94 billion.
• CSX declared a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 dividend and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $51.31.

OneDigital Investment Advisors LLC purchased a new stake in CSX Corporation (NASDAQ:CSX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 44,033 shares of the transportation company's stock, valued at approximately $2,093,000.

Other hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC increased its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Syon Capital LLC boosted its position in shares of CSX by 1.0% in the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company's stock valued at $1,026,000 after purchasing an additional 287 shares during the period. Root Financial Partners LLC boosted its position in shares of CSX by 7.3% in 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 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 worth $480,000 after buying an additional 346 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in CSX by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company's stock worth $1,450,000 after buying an additional 347 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX stock opened at $50.16 on Monday. The business's 50 day moving average is $49.02 and its two-hundred day moving average is $44.74. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company has a market capitalization of $92.92 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. 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 (NASDAQ:CSX - Get Free Report) last released its 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. 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 quarter in the previous year, the company posted $0.44 earnings per share. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts forecast that CSX Corporation will post 2 EPS 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 paid a $0.14 dividend. 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 currently 32.37%.

Insider Activity

In other CSX news, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 10,437 shares of the company's stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSX. Argus set a $56.00 price objective on CSX in a research note on Friday, July 31st. The Goldman Sachs Group restated a "neutral" rating and set a $41.00 target price (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Truist Financial set a $46.00 target price on shares of CSX in a report on Friday, July 10th. TD Cowen upped their price target on shares of CSX from $46.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $52.00 price target (up from $49.00) on shares of CSX in a research note 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. According to MarketBeat, CSX presently has an average rating of "Moderate Buy" and a consensus 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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