Hara Capital LLC Makes New Investment in CSX Corporation $CSX

Hara Capital LLC bought a new stake in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 18,240 shares of the transportation company’s stock, valued at approximately $867,000.

Other hedge funds have also made changes to their positions in the company. Canada Post Corp Registered Pension Plan raised its holdings in CSX by 34.2% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after acquiring an additional 24,566 shares in the last quarter. M. Kulyk & Associates LLC acquired a new position in CSX during the 2nd quarter worth $8,145,000. Wealthfront Advisers LLC bought a new stake in shares of CSX in the 2nd quarter worth about $7,609,000. First National Bank of Omaha bought a new stake in shares of CSX in the 2nd quarter worth about $6,248,000. Finally, M3 Wealth Management LLC acquired a new stake in shares of CSX in the 2nd quarter valued at about $3,373,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 0.6%

NASDAQ CSX opened at $50.97 on Friday. 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 one year low of $31.80 and a one year high of $53.60. The company has a 50-day simple moving average of $49.30 and a 200-day simple moving average of $45.11. The firm has a market capitalization of $94.42 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.21.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $3.89 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. CSX’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio is presently 32.37%.

Insider Buying and Selling

In related news, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was 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 in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the 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 in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $59.00 price objective on shares of CSX in a report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $56.00 target price on shares of CSX in a research report on Monday, July 13th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.31.

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.