Vise Technologies Inc. Invests $2.80 Million in CSX Corporation $CSX

Vise Technologies Inc. bought a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, Holdings Channel.com reports. The firm bought 58,939 shares of the transportation company’s stock, valued at approximately $2,801,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. N.E.W. Advisory Services LLC bought a new stake in shares of CSX during the second quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in CSX during the second quarter valued at $34,000. Allied Private Wealth LLC purchased a new position in CSX during the second quarter valued at $37,000. Finally, Wilkerson Advisory Group LLC increased its holdings in CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $51.59 on Friday. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The stock has a market capitalization of $95.57 billion, a P/E ratio of 29.82, a PEG ratio of 2.33 and a beta of 1.21. The firm has a fifty day simple moving average of $49.38 and a two-hundred day simple moving average of $45.15. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last announced its earnings results 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. 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 analysts’ expectations of $3.89 billion. During the same period in the prior year, the company earned $0.44 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. On average, analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed 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. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

Insider Buying and Selling

In other 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 owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the business’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 in the company, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSX. Robert W. Baird boosted their price target on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Truist Financial set a $46.00 target price on CSX in a report on Friday, July 10th. Argus set a $56.00 target price on CSX in a research report on Friday, July 31st. Rothschild & Co Redburn increased their price target on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company raised their price target on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.