Empowered Funds LLC Invests $11.54 Million in CSX Corporation $CSX

Empowered Funds LLC acquired a new position in CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 242,778 shares of the transportation company’s stock, valued at approximately $11,539,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after buying an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of CSX by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 2,281 shares in the last quarter. WFA of San Diego LLC acquired a new stake in shares of CSX in the second quarter valued at about $28,000. Captrust Financial Advisors increased its position in shares of CSX by 0.8% in the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after acquiring an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after acquiring an additional 27,280 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $51.28 on Friday. The stock has a market cap of $94.99 billion, a PE ratio of 29.64, a P/E/G ratio of 2.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The firm has a 50-day moving average of $49.91 and a 200-day moving average of $45.57. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60.

CSX (NASDAQ:CSX) last issued 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 firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Corporation will post 2 EPS 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 $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

Insider Buying and Selling at CSX

In related news, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 189,708 shares of company stock worth $9,132,304. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of a number of analyst reports. Barclays reaffirmed an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Robert W. Baird raised their target price on shares of CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $59.00 target price on shares of CSX in a research note on Friday, July 24th. Citigroup upped their price target on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, TD Cowen lifted 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. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company 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.