Meeder Advisory Services Inc. Invests $2.48 Million in CSX Corporation $CSX

Meeder Advisory Services Inc. purchased a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 52,290 shares of the transportation company’s stock, valued at approximately $2,485,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in CSX in the 2nd quarter valued at $34,000. Tiemann Investment Advisors LLC purchased a new position in shares of CSX during the 2nd quarter worth $397,000. Citizens Financial Group Inc. RI acquired a new position in shares of CSX during the 2nd quarter valued at about $1,719,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of CSX during the 2nd quarter valued at about $213,000. Finally, Pavion Blue Capital LLC purchased a new stake in shares of CSX in the second quarter valued at about $476,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 0.7%

CSX stock opened at $50.24 on Wednesday. The company has a market capitalization of $93.07 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The firm has a 50 day moving average price of $49.14 and a 200 day moving average price of $44.92.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business 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 firm posted $0.44 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Research analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Rothschild & Co Redburn raised their price objective on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Stifel Nicolaus set a $54.00 price target on shares of CSX in a research note on Thursday, July 23rd. Vertical Research downgraded shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a report on Thursday, April 23rd. Citizens Jmp assumed coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Finally, Morgan Stanley set a $32.00 price objective on CSX and gave the company an “underweight” rating in a report on Monday, July 6th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling at CSX

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the business’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 owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the sale, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is currently owned by corporate insiders.

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.