19,602 Shares in CSX Corporation $CSX Acquired by Old North State Trust LLC

Old North State Trust LLC acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, Holdings Channel.com reports. The fund acquired 19,602 shares of the transportation company’s stock, valued at approximately $932,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of CSX during the 2nd quarter valued at $7,655,277,000. XXEC Inc. acquired a new position in shares of CSX in the second quarter worth $765,595,000. Bank of America Corp DE purchased a new stake in shares of CSX during the second quarter worth $1,598,962,000. Bank of New York Mellon Corp acquired a new stake in CSX during the second quarter valued at $950,325,000. Finally, Legal & General Group Plc acquired a new stake in CSX during the second quarter valued at $747,001,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This trade represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is owned by company insiders.

CSX Trading Down 0.4%

NASDAQ:CSX opened at $51.54 on Friday. The company’s 50 day moving average is $49.80 and its 200-day moving average is $45.53. The company has a quick ratio of 0.72, a current ratio of 0.82 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 firm has a market cap of $95.48 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $0.44 EPS. CSX’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CSX shares. Citizens Jmp assumed coverage on CSX in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. TD Cowen raised their price objective 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. Evercore set a $51.00 target price on shares of CSX in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Eighteen investment 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, CSX currently 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.