36,397 Shares in CSX Corporation $CSX Purchased by Wealthspan Partners LLC

Wealthspan Partners LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 36,397 shares of the transportation company’s stock, valued at approximately $1,730,000. CSX makes up 0.5% of Wealthspan Partners LLC’s investment portfolio, making the stock its 27th biggest position.

Several other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of CSX in the second quarter valued at approximately $950,325,000. Pinebridge Investments LLC purchased a new position in shares of CSX during the 4th quarter valued at approximately $5,979,000. Old West Investment Management LLC purchased a new position in shares of CSX during the 2nd quarter valued at approximately $5,652,000. Cohen & Steers Inc. grew its stake in CSX by 1.2% in the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after acquiring an additional 98,977 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in CSX in the 2nd quarter worth $3,897,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX opened at $50.16 on Monday. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The stock has a market cap of $92.92 billion, a PE ratio of 28.99, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $49.02 and a 200 day moving average of $44.74.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS 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 company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. CSX’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that CSX Corporation will post 2 EPS for the current fiscal 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) is currently 32.37%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Morgan Stanley set a $32.00 target price on shares of CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. Argus set a $56.00 price target on shares of CSX in a research report on Friday, July 31st. Citigroup raised their price target on shares of CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Citizens Jmp started coverage on CSX in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

Insider Buying and Selling

In related news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on 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 in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of the business’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 transaction, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is owned by corporate insiders.

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.