D.B. Root & Company LLC Invests $899,000 in CSX Corporation $CSX

D.B. Root & Company LLC bought a new position in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 18,917 shares of the transportation company’s stock, valued at approximately $899,000.

A number of other large investors have also made changes to their positions in the stock. N.E.W. Advisory Services LLC purchased a new position in CSX in the second quarter valued at about $27,000. Arlington Trust Co LLC raised its holdings in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in CSX in the 2nd quarter valued at about $34,000. Allied Private Wealth LLC acquired a new stake in shares of CSX during the 2nd quarter worth about $37,000. Finally, Wilkerson Advisory Group LLC raised its position in shares of CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after buying an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $51.59 on Monday. The stock has a 50-day moving average price of $49.38 and a two-hundred day moving average price of $45.20. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The company has a market cap of $95.57 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. As a group, research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

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

Insider Buying and Selling at CSX

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. The trade was a 39.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the sale, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSX shares. BMO Capital Markets restated a “market perform” rating and set a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Rothschild & Co Redburn boosted their price target on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company increased their price target on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Benchmark restated a “buy” rating and set a $54.00 price objective (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.