94,036 Shares in CSX Corporation $CSX Acquired by CFO4Life Group LLC

CFO4Life Group LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 94,036 shares of the transportation company’s stock, valued at approximately $4,470,000. CSX accounts for 0.6% of CFO4Life Group LLC’s holdings, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in CSX in the 2nd quarter worth approximately $27,000. WFA of San Diego LLC purchased a new position in shares of CSX during the 2nd quarter valued at $28,000. Arlington Trust Co LLC grew its holdings in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC grew its holdings in shares of CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of CSX in the second quarter worth $34,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale is available in the SEC filing. Insiders sold 189,708 shares of company stock worth $9,132,304 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

CSX Stock Up 1.2%

CSX stock opened at $51.59 on Friday. The company has a market capitalization of $95.57 billion, a P/E ratio of 29.82, a P/E/G ratio of 2.36 and a beta of 1.21. The firm’s fifty day simple moving average is $49.38 and its 200-day simple moving average is $45.15. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. CSX’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. Sell-side analysts forecast that CSX Corporation will post 2 earnings per share 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 issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is 32.37%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus set a $54.00 price objective on CSX in a report on Thursday, July 23rd. Barclays restated an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Wells Fargo & Company upped their target price on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Morgan Stanley set a $32.00 price target on CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. lifted their price target on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CSX has a consensus 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.