HBK Sorce Advisory LLC Invests $890,000 in CSX Corporation $CSX

HBK Sorce Advisory 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 Securities & Exchange Commission. The fund purchased 17,418 shares of the transportation company’s stock, valued at approximately $890,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after purchasing an additional 849 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of CSX by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 2,281 shares in the last quarter. WFA of San Diego LLC purchased a new position in shares of CSX during the 2nd quarter valued at approximately $28,000. Captrust Financial Advisors boosted its stake in shares of CSX by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after buying an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC grew its position in shares of CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after buying an additional 27,280 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $50.16 on Monday. The stock has a market capitalization of $92.92 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 2.29 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’s fifty day moving average is $49.02 and its two-hundred day moving average is $44.74. 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 business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts anticipate that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued 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%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSX. Rothschild & Co Redburn upped their price target on shares of CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. Barclays reissued an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Susquehanna raised shares of CSX from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Citizens Jmp assumed coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $51.31.

Insider Buying and Selling

In other CSX news, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael S. Burns sold 13,000 shares of the company’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 transaction, the senior vice president directly owned 59,643 shares of the company’s stock, 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. In the last ninety days, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by insiders.

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.