M. Kulyk & Associates LLC Makes New $8.14 Million Investment in CSX Corporation $CSX

M. Kulyk & Associates LLC acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 171,361 shares of the transportation company’s stock, valued at approximately $8,145,000. CSX comprises approximately 1.3% of M. Kulyk & Associates LLC’s holdings, making the stock its 28th largest position.

A number of other institutional investors also recently modified their holdings of CSX. Meeder Advisory Services Inc. bought a new stake in CSX during the 2nd quarter valued at $2,485,000. Meeder Asset Management Inc. purchased a new stake in CSX in the 2nd quarter valued at about $34,000. Tiemann Investment Advisors LLC purchased a new stake in shares of CSX during the second quarter valued at approximately $397,000. Citizens Financial Group Inc. RI purchased a new stake in shares of CSX during the 2nd quarter valued at $1,719,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in CSX during the second quarter worth about $213,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction 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 transaction, the director owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 189,708 shares of company stock valued at $9,132,304 over the last three months. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $59.00 price objective on shares of CSX in a research report on Friday, July 24th. Stephens started coverage on shares of CSX in a research report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 target price for the company. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $56.00 price objective on shares of CSX in a research note on Monday, July 13th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Stock Performance

NASDAQ CSX opened at $50.24 on Wednesday. The firm has a market cap of $93.07 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average is $49.14 and its 200-day moving average is $44.92. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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 net margin of 22.21% and a return on equity of 24.98%. The company 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 firm earned $0.44 EPS. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio is currently 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.