Wealthfront Advisers LLC Makes New $7.61 Million Investment in CSX Corporation $CSX

Wealthfront Advisers LLC acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 160,086 shares of the transportation company’s stock, valued at approximately $7,609,000.

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

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of research reports. Citizens Jmp initiated coverage on CSX in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Weiss Ratings raised CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wolfe Research restated an “outperform” rating and set a $50.00 price objective on shares of CSX in a report on Thursday, April 23rd. Argus set a $56.00 target price on CSX in a research report on Friday, July 31st. Finally, TD Cowen increased their target price on CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Eighteen 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.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Trading Up 0.9%

Shares of CSX stock opened at $50.68 on Thursday. The company has a market capitalization of $93.88 billion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. The stock has a fifty day simple moving average of $49.23 and a 200 day simple moving average of $45.01. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. 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 (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 the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. On average, sell-side analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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

Insider Activity

In related news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 189,708 shares of company stock valued at $9,132,304 over the last ninety days. Company insiders own 0.30% of the company’s stock.

CSX Company 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.