SVB Wealth LLC Purchases Shares of 24,738 CSX Corporation $CSX

SVB Wealth LLC acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 24,738 shares of the transportation company’s stock, valued at approximately $807,000.

Several other large investors have also made changes to their positions in CSX. Twin Peaks Wealth Advisors LLC acquired a new position in CSX in the second quarter valued at $25,000. S Bank Fund Management Ltd purchased a new position in shares of CSX in the 1st quarter worth about $45,000. Rise Advisors LLC lifted its stake in shares of CSX by 86.4% in the 1st quarter. Rise Advisors LLC now owns 2,594 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 1,202 shares in the last quarter. McIlrath & Eck LLC grew its holdings in shares of CSX by 217.5% during the 1st quarter. McIlrath & Eck LLC now owns 3,239 shares of the transportation company’s stock worth $95,000 after purchasing an additional 2,219 shares during the period. Finally, Truvestments Capital LLC increased its position in CSX by 51.2% during the 1st quarter. Truvestments Capital LLC now owns 5,916 shares of the transportation company’s stock worth $174,000 after purchasing an additional 2,004 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ:CSX opened at $36.37 on Wednesday. The firm has a 50-day moving average of $35.49 and a two-hundred day moving average of $34.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.85 and a quick ratio of 0.71. The stock has a market cap of $67.73 billion, a P/E ratio of 23.77, a PEG ratio of 3.10 and a beta of 1.30. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.60 billion. CSX had a return on equity of 24.95% and a net margin of 20.55%.The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, research analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 28th. CSX’s dividend payout ratio is 33.99%.

Insider Transactions at CSX

In other news, SVP Michael S. Burns sold 24,249 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $36.76, for a total value of $891,393.24. Following the sale, the senior vice president owned 51,640 shares in the company, valued at approximately $1,898,286.40. This represents a 31.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin S. Boone sold 31,053 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the transaction, the executive vice president directly owned 197,521 shares in the company, valued at $7,128,532.89. The trade was a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CSX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CSX in a research report on Thursday, October 30th. UBS Group set a $45.00 target price on shares of CSX and gave the company a “buy” rating in a report on Friday, October 17th. Wells Fargo & Company raised shares of CSX from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $37.00 to $40.00 in a research report on Thursday, September 25th. Royal Bank Of Canada raised their price objective on CSX from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, Robert W. Baird set a $40.00 target price on CSX and gave the stock an “outperform” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.71.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.