Chapin Davis Inc. Reduces Holdings in CSX Corporation $CSX

Chapin Davis Inc. decreased its position in shares of CSX Corporation (NASDAQ:CSX) by 28.0% in the 2nd quarter, Holdings Channel reports. The fund owned 43,970 shares of the transportation company’s stock after selling 17,076 shares during the quarter. Chapin Davis Inc.’s holdings in CSX were worth $2,090,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Archer Investment Corp purchased a new stake in CSX during the second quarter valued at about $26,000. N.E.W. Advisory Services LLC bought a new position in CSX during the second quarter worth about $27,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of CSX in the second quarter worth about $29,000. Manning & Napier Advisors LLC bought a new stake in shares of CSX in the second quarter valued at approximately $30,000. Finally, Arlington Trust Co LLC lifted its stake 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 buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $51.28 on Friday. The firm’s 50 day simple moving average is $49.91 and its 200 day simple moving average is $45.57. 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 firm has a market capitalization of $94.99 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. As a group, analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a yield of 1.1%. CSX’s dividend payout ratio (DPR) is currently 32.37%.

Insiders Place Their Bets

In related news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the firm’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 sale, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,708 shares of company stock worth $9,132,304 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Truist Financial set a $46.00 target price on CSX in a research report on Friday, July 10th. Citigroup raised their price target on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Stifel Nicolaus set a $54.00 price target on CSX in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Eighteen 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. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

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.