Reliant Investment Partners LLC Buys New Holdings in CSX Corporation $CSX

Reliant Investment Partners LLC purchased a new position in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 33,566 shares of the transportation company’s stock, valued at approximately $1,595,000. CSX accounts for approximately 1.1% of Reliant Investment Partners LLC’s holdings, making the stock its 23rd biggest position.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock worth $2,428,000 after acquiring an additional 2,281 shares during the period. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter worth $28,000. Captrust Financial Advisors raised its holdings in shares of CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after purchasing an additional 27,280 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 0.6%

CSX opened at $50.97 on Friday. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The firm has a market capitalization of $94.42 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The company’s 50 day simple moving average is $49.30 and its two-hundred day simple moving average is $45.11.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Analysts expect that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

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

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Jefferies Financial Group increased their price target on CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Robert W. Baird upped their target price on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $59.00 price target on shares of CSX in a research report on Friday, July 24th. Stephens assumed coverage on CSX in a report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. Finally, Bank of America boosted their target price on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Eighteen investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insiders Place Their Bets

In related news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction dated 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 directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 over the last 90 days. Company insiders own 0.30% of the company’s stock.

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.