Pure Financial Advisors LLC Acquires New Shares in CSX Corporation $CSX

Pure Financial Advisors LLC acquired a new position in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, Holdings Channel reports. The firm acquired 14,615 shares of the transportation company’s stock, valued at approximately $695,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX during the second quarter valued at about $27,000. WFA of San Diego LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $28,000. Manning & Napier Advisors LLC acquired a new stake in CSX in the 2nd quarter valued at approximately $30,000. Arlington Trust Co LLC raised its position in CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares during the period. Finally, First Bancorp Inc ME acquired a new stake in shares of CSX in the second quarter valued at $33,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction 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 owned 10,437 shares in the company, valued at $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares of the company’s stock, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. 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 over the last quarter. Insiders own 0.30% of the company’s stock.

CSX Stock Up 0.5%

Shares of NASDAQ CSX opened at $51.76 on Thursday. The firm’s 50-day moving average is $49.68 and its two-hundred day moving average is $45.45. The company has a market capitalization of $95.88 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

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

CSX Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CSX shares. Weiss Ratings upgraded shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Bank of America raised their price target on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $54.00 price target (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price target on CSX in a report on Thursday, July 23rd. Finally, Barclays reissued an “overweight” rating and set a $60.00 target price (up from $55.00) 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 assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.