CSX Corporation $CSX Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of CSX Corporation (NASDAQ:CSX) by 49.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,424 shares of the transportation company’s stock after acquiring an additional 47,565 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CSX were worth $6,817,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CAO Angela Williams sold 30,000 shares of the company’s 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 of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Burns sold 13,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of several recent research reports. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $59.00 target price on shares of CSX in a report on Friday, July 24th. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citizens Jmp initiated coverage on CSX in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Evercore set a $51.00 price objective on CSX in a research report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Performance

Shares of CSX opened at $48.95 on Friday. The company has a 50-day moving average of $50.23 and a two-hundred day moving average of $46.12. The stock has a market cap of $90.68 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.31 and a beta of 1.21. 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 one year low of $32.18 and a one year high of $53.60.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities research analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

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

CSX Company Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.