Corient Private Wealth LP Invests $28.83 Million in CSX Corporation $CSX

Corient Private Wealth LP acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 801,321 shares of the transportation company’s stock, valued at approximately $28,831,000.

Several other institutional investors have also recently added to or reduced their stakes in CSX. N.E.W. Advisory Services LLC acquired a new position in CSX during the second quarter worth $27,000. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter worth $28,000. Manning & Napier Advisors LLC acquired a new stake in shares of CSX in the second quarter valued at $30,000. Arlington Trust Co LLC grew its stake in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares in the last quarter. Finally, First Bancorp Inc ME purchased a new stake in shares of CSX in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 0.4%

CSX opened at $51.54 on Friday. The business has a fifty day moving average price of $49.80 and a 200 day moving average price of $45.53. 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 Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The stock has a market capitalization of $95.48 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last posted its quarterly 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 company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company earned $0.44 EPS. CSX’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed 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. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is 32.37%.

Insider Activity

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of several research reports. Argus set a $56.00 target price on CSX in a research note on Friday, July 31st. Stephens assumed coverage on CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 target price for the company. Barclays reiterated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $59.00 price target on shares of CSX in a research report on Friday, July 24th. Finally, Raymond James Financial restated an “outperform” rating and issued a $56.00 price objective on shares of CSX in a report on Monday, July 13th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CSX presently has a consensus 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.