Csenge Advisory Group Takes Position in CSX Corporation $CSX

Csenge Advisory Group acquired a new position in CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,931 shares of the transportation company’s stock, valued at approximately $520,000.

Other large investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new stake in CSX in the 2nd quarter valued at $27,000. WFA of San Diego LLC acquired a new position in shares of CSX during the 2nd quarter worth about $28,000. Arlington Trust Co LLC grew its holdings 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 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% in 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 stake in shares of CSX in the second quarter valued at about $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Up 0.6%

Shares of CSX stock opened at $50.97 on Friday. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The stock has a market cap of $94.42 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 2.31 and a beta of 1.21. The firm’s 50-day moving average is $49.30 and its 200-day moving average is $45.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

CSX (NASDAQ:CSX) last posted its quarterly 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 business had revenue of $3.94 billion during 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%.CSX’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. Sell-side analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on CSX shares. Raymond James Financial reiterated an “outperform” rating and set a $56.00 target price on shares of CSX in a report on Monday, July 13th. JPMorgan Chase & Co. boosted their price target on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $50.00 to $58.00 in a research note on Tuesday, July 14th. Argus set a $56.00 price objective on CSX in a research note on Friday, July 31st. Finally, Robert W. Baird increased their price objective on CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

Insiders Place Their Bets

In related news, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is owned by 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.