Brooks Moore & Associates Inc. Buys Shares of 23,737 CSX Corporation $CSX

Brooks Moore & Associates Inc. bought a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,737 shares of the transportation company’s stock, valued at approximately $1,128,000.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in CSX in the second quarter valued at approximately $7,655,277,000. XXEC Inc. purchased a new stake in CSX in the second quarter worth $765,595,000. Bank of America Corp DE bought a new stake in shares of CSX in the second quarter valued at $1,598,962,000. Bank of New York Mellon Corp purchased a new position in shares of CSX during the 2nd quarter valued at $950,325,000. Finally, Legal & General Group Plc purchased a new position in shares of CSX during the 2nd quarter valued at $747,001,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of several recent research reports. Robert W. Baird lifted their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Bank of America upped their price objective on shares of CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Stephens initiated coverage on shares of CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 target price for the company. Finally, Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Performance

NASDAQ:CSX opened at $51.54 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The firm has a market cap of $95.48 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.36 and a beta of 1.21. The business’s fifty day moving average is $49.80 and its 200 day moving average is $45.53.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion during 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 firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company 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 $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is presently 32.37%.

Insider Activity

In other news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 189,708 shares of company stock valued at $9,132,304. Corporate insiders own 0.30% of the company’s stock.

CSX 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.