Empowered Funds LLC Acquires New Position in CSX Corporation $CSX

Empowered Funds LLC bought a new stake in CSX Corporation (NASDAQ:CSX) during the second quarter, HoldingsChannel.com reports. The firm bought 242,778 shares of the transportation company’s stock, valued at approximately $11,539,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after purchasing an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 2,281 shares during the last quarter. WFA of San Diego LLC acquired a new stake in shares of CSX during the second quarter valued at about $28,000. Captrust Financial Advisors boosted its stake in shares of CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after purchasing an additional 3,162 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after purchasing an additional 27,280 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Insiders Place Their Bets

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the 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 directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Angela C. Williams sold 30,000 shares of the firm’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 sale, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

CSX Price Performance

Shares of NASDAQ CSX opened at $51.28 on Friday. The company has a market capitalization of $94.99 billion, a PE ratio of 29.64, a P/E/G ratio of 2.34 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The firm has a fifty day simple moving average of $49.91 and a 200 day simple moving average of $45.57.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. On average, sell-side analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.14 dividend. 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 payout ratio is 32.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Argus set a $56.00 target price on shares of CSX in a research report on Friday, July 31st. 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. Citigroup raised their target price on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Stifel Nicolaus set a $54.00 price target on CSX in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 price target (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.