Pavion Blue Capital LLC Invests $476,000 in CSX Corporation $CSX

Pavion Blue Capital LLC bought a new stake in CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,023 shares of the transportation company’s stock, valued at approximately $476,000.

Several other hedge funds also recently modified their holdings of CSX. Brighton Jones LLC raised its position in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after buying an additional 849 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in 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 valued at $2,428,000 after acquiring an additional 2,281 shares in the last quarter. WFA of San Diego LLC purchased a new position in CSX during the 2nd quarter worth $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 worth $13,242,000 after acquiring an additional 3,162 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of CSX by 22.5% in the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after purchasing an additional 27,280 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insider Transactions at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the sale, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent analyst reports. Bank of America upped their price objective on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. New Street Research set a $49.00 target price on CSX in a research note on Thursday, April 23rd. Rothschild & Co Redburn upped their target price on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 price target on shares of CSX in a research report on Monday, July 13th. Finally, Vertical Research lowered CSX from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a report on Thursday, April 23rd. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Performance

NASDAQ CSX opened at $50.58 on Tuesday. The company has a market capitalization of $93.70 billion, a PE ratio of 29.24, a price-to-earnings-growth 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. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a 50-day simple moving average of $49.08 and a 200 day simple moving average of $44.83.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is 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.