Caitlin John LLC Makes New $517,000 Investment in CSX Corporation $CSX

Caitlin John LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, HoldingsChannel reports. The fund purchased 10,875 shares of the transportation company’s stock, valued at approximately $517,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. BlackRock Inc. bought a new stake in shares of CSX in the 2nd quarter valued at $7,655,277,000. XXEC Inc. bought a new position in CSX during the second quarter worth about $765,595,000. Bank of America Corp DE bought a new position in CSX during the second quarter worth about $1,598,962,000. Bank of New York Mellon Corp acquired a new position in CSX in the second quarter valued at about $950,325,000. Finally, Legal & General Group Plc acquired a new position in CSX in the second quarter valued at about $747,001,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Transactions at CSX

In other news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock worth $9,132,304 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup increased their price target on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Argus set a $56.00 price objective on CSX in a research report on Friday, July 31st. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Robert W. Baird increased their target price on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Citizens Jmp assumed coverage on shares of CSX in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Price Performance

CSX stock opened at $51.54 on Friday. The stock has a 50-day moving average price of $49.80 and a two-hundred day moving average price of $45.53. The stock has a market cap of $95.48 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.36 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 1 year low of $31.80 and a 1 year high of $53.60.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating 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 company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. Equities analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given 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 (DPR) is currently 32.37%.

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.