87,709 Shares in CSX Corporation $CSX Acquired by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC acquired a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 87,709 shares of the transportation company’s stock, valued at approximately $4,169,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Veratis Advisors Inc. acquired a new stake in CSX during the 2nd quarter worth $364,000. Fiduciary Financial Advisors purchased a new stake in shares of CSX during the second quarter worth $117,000. Manning & Napier Advisors LLC acquired a new stake in shares of CSX in the second quarter valued at about $30,000. L2 Asset Management LLC acquired a new stake in shares of CSX in the second quarter valued at about $504,000. Finally, Aberdeen Wealth Management LLC purchased a new position in shares of CSX in the second quarter worth about $1,036,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insider Activity

In other news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $16,430,015.30. This 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 90 days, insiders sold 189,708 shares of company stock worth $9,132,304. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of a number of recent research reports. Argus set a $56.00 price target on shares of CSX in a research report on Friday, July 31st. Rothschild & Co Redburn increased their price objective on shares of CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. Truist Financial set a $46.00 target price on shares of CSX in a research note on Friday, July 10th. Raymond James Financial restated an “outperform” rating and set a $56.00 target price on shares of CSX in a report on Monday, July 13th. Finally, Benchmark restated a “buy” rating and issued a $54.00 price target (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Trading Down 0.3%

Shares of CSX stock opened at $51.44 on Tuesday. The company’s 50-day moving average price is $49.46 and its 200-day moving average price is $45.28. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock has a market cap of $95.29 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.36 and a beta of 1.21. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (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 firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. CSX’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.14 dividend. 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 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.