Smith Partners Wealth Management LLC Makes New Investment in CSX Corporation $CSX

Smith Partners Wealth Management LLC acquired a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,644 shares of the transportation company’s stock, valued at approximately $601,000. CSX comprises 0.5% of Smith Partners Wealth Management LLC’s holdings, making the stock its 24th largest position.

Several other hedge funds have also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in shares of CSX in the 2nd quarter worth approximately $27,000. WFA of San Diego LLC purchased a new stake in shares of CSX during the second quarter valued at approximately $28,000. Arlington Trust Co LLC increased 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 acquiring an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC lifted its holdings in CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after acquiring an additional 409 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in CSX during the second quarter worth $34,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $50.24 on Wednesday. The firm has a market cap of $93.07 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 2.29 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. The company’s 50 day moving average is $49.14 and its 200-day moving average is $44.92. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping 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 company 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 earned $0.44 EPS. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio is currently 32.37%.

Analyst Ratings Changes

A number of research analysts have issued reports on CSX shares. Wells Fargo & Company upped their price objective on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Vertical Research downgraded shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Rothschild & Co Redburn raised their price objective on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen 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’s stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling

In related news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s 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 sale, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,708 shares of company stock valued at $9,132,304 over the last three months. Insiders own 0.30% of the company’s stock.

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.