XXEC Inc. Buys Shares of 63,806 CSX Corporation $CSX

XXEC Inc. purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 63,806 shares of the transportation company’s stock, valued at approximately $2,947,000. CSX comprises approximately 0.0% of XXEC Inc.’s investment portfolio, making the stock its 25th largest holding.

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

Analyst Ratings Changes

Several brokerages have weighed in on CSX. Raymond James Financial reiterated an “outperform” rating and issued a $56.00 price target on shares of CSX in a report on Monday, July 13th. Wall Street Zen cut CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company lifted their price objective on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Barclays reiterated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.

CSX Price Performance

CSX opened at $51.54 on Friday. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a 50 day moving average of $49.80 and a two-hundred day moving average of $45.53. The company has a market cap of $95.48 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.36 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 (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given 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 dividend payout ratio (DPR) is 32.37%.

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.