State of Wyoming Invests $597,000 in CSX Corporation $CSX

State of Wyoming bought a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,566 shares of the transportation company’s stock, valued at approximately $597,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Arlington Trust Co LLC grew its holdings in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares in the last quarter. Syon Capital LLC raised its stake in CSX by 1.0% during the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after purchasing an additional 287 shares in the last quarter. Root Financial Partners LLC raised its stake in CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after purchasing an additional 323 shares in the last quarter. Walled Lake Planning & Wealth Management LLC lifted its position in CSX by 2.7% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after purchasing an additional 346 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in CSX by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock valued at $1,450,000 after purchasing an additional 347 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CSX shares. TD Cowen boosted their target price on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Wells Fargo & Company increased their price target on shares of CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Rothschild & Co Redburn lifted their price target on CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Stephens assumed coverage on CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. Finally, Wall Street Zen cut CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Insiders Place Their Bets

In related news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction 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 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. 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. Corporate insiders own 0.30% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $50.16 on Monday. The company’s fifty day simple moving average is $49.02 and its 200-day simple moving average is $44.74. The company has a market cap of $92.92 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.29 and a beta of 1.21. 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 Corporation has a twelve month low of $31.80 and a twelve month high of $53.60.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts expect 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. Stockholders 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 dividend yield of 1.1%. CSX’s dividend payout ratio is currently 32.37%.

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.