Lee Johnson Capital Management LLC Makes New $921,000 Investment in CSX Corporation $CSX

Lee Johnson Capital Management LLC acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,368 shares of the transportation company’s stock, valued at approximately $921,000.

Several other institutional investors and hedge funds have also modified their holdings of CSX. Brighton Jones LLC lifted its holdings in CSX by 5.5% in the fourth 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 period. BI Asset Management Fondsmaeglerselskab A S lifted its stake 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 during the period. WFA of San Diego LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $28,000. Captrust Financial Advisors grew its holdings in CSX by 0.8% in 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 grew its stake in CSX by 22.5% in the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after acquiring an additional 27,280 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Activity

In other news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were 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 owned 10,437 shares of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, the director owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 189,708 shares of company stock valued at $9,132,304. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CSX shares. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Morgan Stanley set a $32.00 target price on shares of CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. Wolfe Research reiterated an “outperform” rating and issued a $50.00 target price on shares of CSX in a research report on Thursday, April 23rd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $56.00 price target on shares of CSX in a research note on Monday, July 13th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Performance

NASDAQ CSX opened at $50.58 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The stock’s fifty day moving average is $49.08 and its two-hundred day moving average is $44.83. The firm has a market capitalization of $93.70 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. On average, research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. 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 payout ratio is 32.37%.

About CSX

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.