Investment Management of Virginia LLC Acquires 6,600 Shares of CSX Co. (NASDAQ:CSX)

Investment Management of Virginia LLC raised its position in shares of CSX Co. (NASDAQ:CSX) by 169.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,500 shares of the transportation company’s stock after acquiring an additional 6,600 shares during the quarter. Investment Management of Virginia LLC’s holdings in CSX were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gemmer Asset Management LLC grew its holdings in CSX by 220.1% during the second quarter. Gemmer Asset Management LLC now owns 858 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 590 shares during the period. Bellevue Asset Management LLC lifted its position in shares of CSX by 200.0% during the second quarter. Bellevue Asset Management LLC now owns 900 shares of the transportation company’s stock worth $29,000 after acquiring an additional 600 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of CSX during the second quarter worth $33,000. Clearview Wealth Advisors LLC lifted its position in shares of CSX by 201.1% during the second quarter. Clearview Wealth Advisors LLC now owns 1,111 shares of the transportation company’s stock worth $36,000 after acquiring an additional 742 shares in the last quarter. Finally, Evoke Wealth LLC lifted its position in shares of CSX by 140.1% during the second quarter. Evoke Wealth LLC now owns 1,131 shares of the transportation company’s stock worth $36,000 after acquiring an additional 660 shares in the last quarter. 71.79% of the stock is owned by institutional investors and hedge funds.

CSX has been the topic of a number of recent analyst reports. Citigroup upgraded CSX from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 29th. Morgan Stanley increased their price objective on CSX from $20.67 to $21.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 7th. raised CSX from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 29th. Atlantic Securities started coverage on CSX in a research note on Monday, July 12th. They issued an “overweight” rating and a $40.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on CSX from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $34.67.

In other CSX news, Director John J. Zillmer sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $33.54, for a total value of $503,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Kenneth Wallace sold 161,487 shares of the business’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $31.60, for a total transaction of $5,102,989.20. Following the completion of the sale, the executive vice president now owns 314,766 shares in the company, valued at approximately $9,946,605.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 291,487 shares of company stock worth $9,367,739. 0.60% of the stock is owned by corporate insiders.

CSX traded up $0.35 on Wednesday, hitting $30.85. The company had a trading volume of 94,115 shares, compared to its average volume of 10,957,884. The stock has a fifty day simple moving average of $32.42 and a 200-day simple moving average of $32.91. CSX Co. has a 52-week low of $25.13 and a 52-week high of $34.96. The firm has a market capitalization of $69.55 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.80 and a beta of 1.14. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.34 and a quick ratio of 2.20.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, July 20th. The transportation company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. CSX had a net margin of 29.93% and a return on equity of 23.96%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 32.6% on a year-over-year basis. Equities research analysts expect that CSX Co. will post 1.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st will be paid a dividend of $0.093 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, August 30th. CSX’s dividend payout ratio (DPR) is 30.33%.

About CSX

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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