Hara Capital LLC Purchases Shares of 18,240 CSX Corporation $CSX

Hara Capital LLC purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 18,240 shares of the transportation company’s stock, valued at approximately $867,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC increased its position in CSX by 58.0% in the 2nd 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 period. Syon Capital LLC boosted its position in CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after acquiring an additional 287 shares during the period. Root Financial Partners LLC boosted its position in CSX by 7.3% during the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after acquiring an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC grew its stake in shares of CSX by 2.7% in the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after purchasing an additional 346 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its stake in shares of CSX by 0.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after purchasing an additional 347 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Argus set a $56.00 price objective on shares of CSX in a report on Friday, July 31st. Jefferies Financial Group raised their target price on shares of CSX from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $41.00 price target (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. TD Cowen upped their price target on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, New Street Research set a $49.00 price objective on shares of CSX in a report on Thursday, April 23rd. Eighteen equities 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Price Performance

Shares of CSX stock opened at $50.97 on Friday. 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 company’s 50-day moving average price is $49.30 and its two-hundred day moving average price is $45.11. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The stock has a market cap of $94.42 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share 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 company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company earned $0.44 EPS. CSX’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

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

Insider Buying and Selling at CSX

In other CSX 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 value of $6,384,263.60. Following the transaction, 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their position. 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 in the last ninety days. Company 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.