United Capital Financial Advisors LLC Acquires Shares of 170,760 CSX Corporation $CSX

United Capital Financial Advisors LLC bought a new position in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 170,760 shares of the transportation company’s stock, valued at approximately $8,116,000.

A number of other institutional investors have also made changes to their positions in CSX. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX during the 2nd quarter valued at approximately $27,000. Manning & Napier Advisors LLC acquired a new position in CSX in the second quarter worth $30,000. Arlington Trust Co LLC increased its stake in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares during the last quarter. First Bancorp Inc ME bought a new stake in CSX during the second quarter valued at $33,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of CSX during the second quarter worth $34,000. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSX has been the subject of several research reports. Truist Financial set a $46.00 price target on shares of CSX in a report on Friday, July 10th. 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. Wells Fargo & Company raised their target price on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and lifted their target price for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Finally, Stifel Nicolaus set a $54.00 target price on CSX in a report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.31.

Insider Transactions at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction 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 trade represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was 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 represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by company insiders.

CSX Stock Performance

Shares of CSX opened at $51.54 on Friday. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The firm has a market capitalization of $95.48 billion, a PE ratio of 29.79, a P/E/G ratio of 2.36 and a beta of 1.21. The firm has a 50-day moving average price of $49.80 and a 200 day moving average price of $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 (NASDAQ:CSX) last issued its quarterly 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. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. On average, sell-side analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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

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.