Robinhood Asset Management LLC Acquires Shares of 178,492 CSX Corporation $CSX

Robinhood Asset Management LLC acquired a new stake in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 178,492 shares of the transportation company’s stock, valued at approximately $8,484,000.

A number of other hedge funds also recently modified their holdings of the stock. Arlington Trust Co LLC grew its stake 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. Syon Capital LLC grew its position in shares of CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after purchasing an additional 287 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC lifted its holdings in CSX by 2.7% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after purchasing an additional 346 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its holdings in CSX by 0.9% during the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Cowen upped their price objective on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Argus set a $56.00 target price on CSX in a report on Friday, July 31st. Citigroup boosted their target price on shares of CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley set a $32.00 price target on shares of CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Finally, 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. Eighteen investment 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. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Activity at CSX

In other news, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction that occurred 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 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 189,708 shares of company stock worth $9,132,304. Corporate insiders own 0.30% of the company’s stock.

CSX Stock Up 1.2%

Shares of CSX opened at $51.59 on Friday. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The company has a market cap of $95.57 billion, a P/E ratio of 29.82, a P/E/G ratio of 2.33 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $49.38 and a two-hundred day simple moving average of $45.15.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. Research analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

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

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.