WNY Asset Management LLC Buys New Holdings in CSX Corporation $CSX

WNY Asset Management LLC purchased a new position in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,137 shares of the transportation company’s stock, valued at approximately $624,000.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 849 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of CSX by 3.2% during 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 purchasing an additional 2,281 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter worth $28,000. Captrust Financial Advisors lifted its position in CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after purchasing an additional 3,162 shares during the period. Finally, Horizon Investments LLC lifted its position in CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after purchasing an additional 27,280 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Citizens Jmp initiated coverage on CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Barclays reissued an “overweight” rating and issued a $60.00 price objective (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their target price on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $54.00 price target (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, TD Cowen boosted their price target on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.31.

Insider Activity at CSX

In related news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the sale, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction 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 in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock worth $9,132,304 over the last 90 days. 0.30% of the stock is owned by insiders.

CSX Trading Down 0.4%

CSX stock opened at $51.54 on Friday. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The firm has a market cap of $95.48 billion, a P/E ratio of 29.79, a PEG ratio of 2.36 and a beta of 1.21. The company’s 50-day simple moving average is $49.80 and its 200-day simple moving average is $45.53.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.CSX’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, equities analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

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

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.