EP Wealth Advisors LLC Takes Position in CSX Corporation $CSX

EP Wealth Advisors LLC purchased a new stake in CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 144,398 shares of the transportation company’s stock, valued at approximately $6,863,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in CSX during the second quarter worth $7,655,277,000. Bank of New York Mellon Corp acquired a new stake in shares of CSX in the second quarter valued at about $950,325,000. Deutsche Bank AG acquired a new stake in shares of CSX in the second quarter valued at about $685,418,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of CSX during the second quarter worth about $224,809,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of CSX during the second quarter worth about $171,908,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Angela C. Williams sold 30,000 shares of the business’s 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 transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,708 shares of company stock valued at $9,132,304 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

CSX Stock Performance

NASDAQ:CSX opened at $51.59 on Friday. The company has a market cap of $95.57 billion, a P/E ratio of 29.82, a P/E/G ratio of 2.33 and a beta of 1.21. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company’s 50-day moving average price is $49.38 and its 200-day moving average price is $45.15. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.

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

CSX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets restated a “market perform” rating and set a $52.00 price target (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Citizens Jmp assumed coverage on CSX in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Barclays reiterated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $54.00 target price (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Finally, Raymond James Financial restated an “outperform” rating and issued a $56.00 target price on shares of CSX in a research report on Monday, July 13th. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

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.