Legacy Financial Advisors Inc. Increases Stock Holdings in CSX Co. (NASDAQ:CSX)


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Legacy Financial Advisors Inc. boosted its position in shares of CSX Co. (NASDAQ:CSX) by 2.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,852 shares of the transportation company’s stock after acquiring an additional 271 shares during the quarter. CSX accounts for approximately 0.4% of Legacy Financial Advisors Inc.’s investment portfolio, making the stock its 21st biggest position. Legacy Financial Advisors Inc.’s holdings in CSX were worth $1,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Norges Bank purchased a new position in shares of CSX in the 4th quarter valued at about $666,341,000. Egerton Capital UK LLP acquired a new stake in shares of CSX during the 4th quarter worth about $593,993,000. Ontario Teachers Pension Plan Board raised its position in shares of CSX by 27,865.4% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,820,589 shares of the transportation company’s stock worth $255,968,000 after acquiring an additional 2,810,503 shares in the last quarter. First Trust Advisors LP raised its position in shares of CSX by 521.0% during the 4th quarter. First Trust Advisors LP now owns 2,299,421 shares of the transportation company’s stock worth $208,672,000 after acquiring an additional 1,929,160 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of CSX by 49.3% during the 4th quarter. Morgan Stanley now owns 3,787,872 shares of the transportation company’s stock worth $343,749,000 after acquiring an additional 1,251,547 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Shares of CSX opened at $101.38 on Tuesday. The company has a market capitalization of $76.79 billion, a P/E ratio of 28.16, a P/E/G ratio of 3.00 and a beta of 1.18. CSX Co. has a one year low of $60.00 and a one year high of $103.74. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.73 and a current ratio of 1.84. The stock has a 50-day moving average price of $97.56 and a 200 day moving average price of $91.34.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, April 19th. The transportation company reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.02). CSX had a net margin of 26.08% and a return on equity of 22.83%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the company earned $1.00 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that CSX Co. will post 3.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, February 25th. This represents a $1.12 annualized dividend and a yield of 1.10%. This is a boost from CSX’s previous quarterly dividend of $0.26. CSX’s dividend payout ratio is presently 26.86%.

Several research firms have commented on CSX. BMO Capital Markets raised CSX from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $95.00 to $110.00 in a research report on Tuesday, April 27th. Vertical Research began coverage on CSX in a report on Friday, March 26th. They issued a “hold” rating for the company. Argus upped their target price on CSX from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, January 25th. Royal Bank of Canada upped their price target on CSX from $100.00 to $108.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on CSX from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, April 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. CSX has a consensus rating of “Buy” and an average target price of $94.70.

In other news, EVP Nathan D. Goldman sold 36,254 shares of the stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $103.27, for a total transaction of $3,743,950.58. Following the sale, the executive vice president now directly owns 109,028 shares in the company, valued at approximately $11,259,321.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Moffett sold 5,819 shares of the stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $101.93, for a total value of $593,130.67. The disclosure for this sale can be found here. Insiders have sold 2,001,520 shares of company stock worth $201,920,643 in the last 90 days. 0.58% of the stock is currently owned by insiders.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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