First Nebraska Trust Co Invests $533,000 in CSX Corporation $CSX

First Nebraska Trust Co acquired a new position in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,215 shares of the transportation company’s stock, valued at approximately $533,000.

A number of other large investors also recently modified their holdings of CSX. N.E.W. Advisory Services LLC purchased a new position in CSX during the 2nd quarter worth $27,000. Arlington Trust Co LLC grew its stake in shares of CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of CSX in the second quarter valued at about $34,000. Allied Private Wealth LLC purchased a new stake in shares of CSX in the second quarter valued at about $37,000. Finally, Wilkerson Advisory Group LLC lifted its position in shares of CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $51.59 on Friday. 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. The firm’s 50 day simple moving average is $49.38 and its 200 day simple moving average is $45.15. The firm has a market capitalization of $95.57 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for 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 firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. As a group, analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

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 paid a $0.14 dividend. The ex-dividend date 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 currently 32.37%.

Insider Activity

In other news, CFO Kevin S. Boone sold 136,708 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 189,708 shares of company stock worth $9,132,304 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CSX shares. TD Cowen boosted their price target on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Evercore set a $51.00 price objective on shares of CSX in a research note on Thursday, July 23rd. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $59.00 price target on shares of CSX in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

About CSX

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.