CSX Corporation $CSX Shares Acquired by VestGen Advisors LLC

VestGen Advisors LLC boosted its position in CSX Corporation (NASDAQ:CSX) by 152.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 42,348 shares of the transportation company’s stock after purchasing an additional 25,559 shares during the quarter. VestGen Advisors LLC’s holdings in CSX were worth $1,970,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CSX. BlackRock Inc. bought a new position in shares of CSX in the second quarter worth $7,655,277,000. XXEC Inc. purchased a new stake in shares of CSX in the second quarter worth $765,595,000. Bank of America Corp DE bought a new stake in CSX during the second quarter valued at $1,598,962,000. Bank of New York Mellon Corp bought a new stake in CSX during the second quarter valued at $950,325,000. Finally, Legal & General Group Plc purchased a new position in CSX during the second quarter worth about $747,001,000. 73.57% of the stock is owned by institutional investors.

Insider Transactions at CSX

In other CSX news, Director John Zillmer sold 19,500 shares of the business’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $51.24, for a total value of $999,180.00. Following the sale, the director directly owned 334,214 shares of the company’s stock, valued at approximately $17,125,125.36. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $51.99 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. The business has a 50 day moving average price of $48.86 and a 200-day moving average price of $45.51. The firm has a market cap of $95.84 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. CSX Corporation has a fifty-two week low of $33.63 and a fifty-two week high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. CSX had a return on equity of 25.94% and a net margin of 23.97%. CSX’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts predict that CSX Corporation will post 2.04 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s dividend payout ratio (DPR) is 29.02%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Sanford C. Bernstein restated a “market perform” rating and issued a $49.00 target price on shares of CSX in a research note on Thursday, October 22nd. Argus set a $56.00 price objective on shares of CSX in a research report on Friday, July 31st. Stephens began coverage on shares of CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 target price on the stock. Robert W. Baird lifted their target price on shares of CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Barclays reissued an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Eighteen research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.20.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.