Pure Financial Advisors LLC Makes New Investment in CSX Corporation $CSX

Pure Financial Advisors LLC bought a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,615 shares of the transportation company’s stock, valued at approximately $695,000.

A number of other hedge funds have also recently made changes to their positions in the stock. N.E.W. Advisory Services LLC bought a new stake in shares of CSX during the second quarter valued at approximately $27,000. Manning & Napier Advisors LLC bought a new position in CSX in the second quarter worth approximately $30,000. Arlington Trust Co LLC increased its holdings in 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 purchasing an additional 250 shares during the period. First Bancorp Inc ME bought a new stake in CSX during the 2nd quarter valued at $33,000. Finally, Meeder Asset Management Inc. bought a new stake in CSX during the 2nd quarter valued at $34,000. 73.57% of the stock is currently owned by institutional investors.

Insider Activity at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the 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 transaction, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of CSX 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 completion of the sale, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 189,708 shares of company stock valued at $9,132,304. Insiders own 0.30% of the company’s stock.

CSX Stock Up 0.5%

CSX stock opened at $51.76 on Thursday. The firm’s fifty day simple moving average is $49.68 and its 200-day simple moving average is $45.45. The company has a market capitalization of $95.88 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. 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 (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $0.44 earnings per share. CSX’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is 32.37%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CSX. Benchmark restated a “buy” rating and issued a $54.00 price objective (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Stephens initiated coverage on shares of CSX in a report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. BMO Capital Markets reiterated a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Citizens Jmp began coverage on shares of CSX in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Finally, Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.31.

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.