Tiptree Advisors LLC Invests $12.24 Million in CSX Corporation $CSX

Tiptree Advisors LLC acquired a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, HoldingsChannel reports. The fund acquired 257,500 shares of the transportation company’s stock, valued at approximately $12,239,000. CSX makes up about 7.6% of Tiptree Advisors LLC’s investment portfolio, making the stock its 4th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in CSX during the second quarter worth $27,000. WFA of San Diego LLC bought a new position in shares of CSX in the 2nd quarter valued at about $28,000. Manning & Napier Advisors LLC bought a new position in shares of CSX in the 2nd quarter valued at about $30,000. Arlington Trust Co LLC increased its stake in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the last quarter. Finally, First Bancorp Inc ME bought a new stake in shares of CSX in the 2nd quarter valued at about $33,000. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 0.5%

Shares of NASDAQ:CSX opened at $51.76 on Thursday. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The stock has a market cap of $95.88 billion, a PE ratio of 29.92, a P/E/G ratio of 2.35 and a beta of 1.21. The business has a 50 day moving average of $49.68 and a 200-day moving average of $45.45. 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 announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. As a group, equities research analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.14 dividend. 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, August 31st. CSX’s dividend payout ratio is currently 32.37%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CSX shares. Evercore set a $51.00 price objective on CSX in a research note on Thursday, July 23rd. Benchmark reiterated a “buy” rating and set a $54.00 target price (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Susquehanna raised CSX from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $50.00 to $58.00 in a report on Tuesday, July 14th. Truist Financial set a $46.00 target price on CSX in a report on Friday, July 10th. Finally, Stephens assumed coverage on CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Transactions at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 189,708 shares of company stock valued at $9,132,304. Corporate 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.