Simplicity Wealth LLC Invests $498,000 in CSX Corporation $CSX

Simplicity Wealth LLC bought a new stake in CSX Corporation (NASDAQ:CSX) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 10,482 shares of the transportation company’s stock, valued at approximately $498,000.

A number of other institutional investors have also made changes to their positions in CSX. Bank of New York Mellon Corp acquired a new position in shares of CSX during the second quarter worth approximately $950,325,000. Cohen & Steers Inc. increased its holdings in shares of CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after purchasing an additional 98,977 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of CSX by 4.4% in the fourth quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company’s stock valued at $15,345,000 after purchasing an additional 18,025 shares in the last quarter. Miller Howard Investments Inc. NY raised its position in CSX by 6.8% in the 1st quarter. Miller Howard Investments Inc. NY now owns 238,817 shares of the transportation company’s stock worth $9,803,000 after purchasing an additional 15,310 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its position in CSX by 2.4% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 189,288 shares of the transportation company’s stock worth $6,862,000 after purchasing an additional 4,476 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on CSX shares. Evercore set a $51.00 price objective on CSX in a research report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and set a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. TD Cowen upped their price target on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $54.00 price target (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Finally, Truist Financial set a $46.00 price objective on CSX in a research report on Friday, July 10th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.31.

CSX Price Performance

Shares of CSX stock opened at $50.58 on Tuesday. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The stock has a market cap of $93.70 billion, a PE ratio of 29.24, a PEG ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The firm’s 50 day moving average price is $49.08 and its two-hundred day moving average price is $44.83.

CSX (NASDAQ:CSX) last issued 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 company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s payout ratio is 32.37%.

Insider Buying and Selling

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at $9,742,647.40. The trade was a 39.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.

CSX 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.