Sanctuary Advisors LLC Invests $11.76 Million in CSX Corporation $CSX

Sanctuary Advisors LLC bought a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 247,456 shares of the transportation company’s stock, valued at approximately $11,762,000.

Other large investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in shares of CSX during the 2nd quarter worth about $27,000. WFA of San Diego LLC acquired a new position in shares of CSX during the second quarter valued at about $28,000. Arlington Trust Co LLC raised its position in shares of CSX by 58.0% during the second 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 during the last quarter. Wilkerson Advisory Group LLC lifted its stake in shares of CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after buying an additional 409 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of CSX in the second quarter valued at about $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

CSX opened at $51.59 on Monday. The firm’s 50-day simple moving average is $49.38 and its 200-day simple moving average is $45.20. 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 Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The firm has a market cap of $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21.

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

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued 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 dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CSX shares. Argus set a $56.00 price target on CSX in a research note on Friday, July 31st. BMO Capital Markets reiterated a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Raymond James Financial reissued an “outperform” rating and set a $56.00 price objective on shares of CSX in a report on Monday, July 13th. Wall Street Zen lowered CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Citizens Jmp began coverage on CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Activity

In other news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the sale, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 189,708 shares of company stock worth $9,132,304. Corporate insiders own 0.30% of the company’s stock.

About CSX

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.