CSX Corporation $CSX Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in CSX Corporation (NASDAQ:CSX) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,502,200 shares of the transportation company’s stock after selling 14,255 shares during the period. HighTower Advisors LLC owned about 0.08% of CSX worth $71,400,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Kirkwood Financial Services purchased a new stake in shares of CSX in the second quarter valued at $242,000. California State Teachers Retirement System boosted its stake in CSX by 5,136.1% in the 2nd quarter. California State Teachers Retirement System now owns 135,990,650 shares of the transportation company’s stock worth $6,463,636,000 after buying an additional 133,393,481 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in CSX by 7.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company’s stock valued at $149,000 after buying an additional 211 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of CSX by 20.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 12,298 shares of the transportation company’s stock valued at $585,000 after acquiring an additional 2,057 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of CSX by 8.3% during the 2nd quarter. Wedmont Private Capital now owns 19,831 shares of the transportation company’s stock worth $980,000 after acquiring an additional 1,514 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX opened at $49.41 on Tuesday. The firm has a 50 day moving average price of $50.19 and a 200 day moving average price of $45.95. The company has a market cap of $91.53 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. 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 (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the firm posted $0.44 earnings per share. CSX’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid 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 (DPR) is currently 32.37%.

Insider Buying and Selling at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction dated 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 $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. TD Cowen boosted their target price on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Robert W. Baird lifted their price target on shares of CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.