Tidal Investments LLC Buys 105,897 Shares of CSX Corporation $CSX

Tidal Investments LLC grew its position in shares of CSX Corporation (NASDAQ:CSX) by 28.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 477,559 shares of the transportation company’s stock after buying an additional 105,897 shares during the quarter. Tidal Investments LLC’s holdings in CSX were worth $23,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSX. Archer Investment Corp bought a new stake in shares of CSX during the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC bought a new position in CSX in the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new position in CSX during the 2nd quarter worth $29,000. Manning & Napier Advisors LLC acquired a new position in CSX during the 2nd quarter worth $30,000. Finally, Arlington Trust Co LLC boosted its position in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 1.4%

Shares of NASDAQ:CSX opened at $49.04 on Friday. The firm has a market cap of $90.85 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 2.27 and a beta of 1.21. CSX Corporation has a 12 month low of $31.96 and a 12 month high of $53.60. The company’s fifty day simple moving average is $50.23 and its 200 day simple moving average is $46.10. 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 earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm 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 quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. As a group, research analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) is 32.37%.

Insider Activity

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. The trade was a 17.90% 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 hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the company’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 completion of the transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore set a $51.00 price target on CSX in a report on Thursday, July 23rd. Citizens Jmp started coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Raymond James Financial restated an “outperform” rating and set a $56.00 target price on shares of CSX in a research report on Monday, July 13th. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Company Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.