Foster & Motley Inc. Takes Position in CSX Corporation $CSX

Foster & Motley Inc. purchased a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 34,518 shares of the transportation company’s stock, valued at approximately $1,641,000.

Several other large investors have also recently added to or reduced their stakes in CSX. Brighton Jones LLC grew its stake in shares of CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 2,281 shares during the last quarter. WFA of San Diego LLC purchased a new position in CSX in the second quarter valued at about $28,000. Captrust Financial Advisors grew its stake in CSX by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after purchasing an additional 3,162 shares in the last quarter. Finally, Horizon Investments LLC grew its stake in CSX by 22.5% during the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after purchasing an additional 27,280 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CSX shares. Jefferies Financial Group increased their target price on CSX from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. TD Cowen upped their price target on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Rothschild & Co Redburn upped their price target on shares of CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. BMO Capital Markets reiterated a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Evercore set a $51.00 price objective on shares of CSX in a report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

CSX Stock Performance

Shares of CSX stock opened at $50.68 on Thursday. The company has a market cap of $93.88 billion, a P/E ratio of 29.29, a PEG ratio of 2.29 and a beta of 1.21. The business has a 50 day moving average of $49.23 and a two-hundred day moving average of $45.01. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. 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 released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping 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 business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts anticipate that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

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

Insider Transactions at CSX

In other news, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction 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 trade represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,708 shares of company stock worth $9,132,304 in the last three months. 0.30% of the stock is currently owned by company 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.