Global Retirement Partners LLC Takes $3.90 Million Position in CSX Corporation $CSX

Global Retirement Partners LLC acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 82,000 shares of the transportation company’s stock, valued at approximately $3,897,000.

Several other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in CSX during the 2nd quarter valued at about $950,325,000. Pinebridge Investments LLC bought a new stake in shares of CSX in the fourth quarter worth approximately $5,979,000. Cohen & Steers Inc. grew its stake in shares of CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after acquiring an additional 98,977 shares during the period. M3 Wealth Management LLC purchased a new position in shares of CSX during the second quarter valued at approximately $3,373,000. Finally, Allstate Corp raised its holdings in shares of CSX by 105.7% during the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock valued at $4,962,000 after purchasing an additional 70,326 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

CSX Price Performance

NASDAQ CSX opened at $50.16 on Monday. The stock has a market cap of $92.92 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.29 and a beta of 1.21. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The company’s 50 day moving average is $49.02 and its two-hundred day moving average is $44.74. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.

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, topping 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 analysts’ expectations of $3.89 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio (DPR) is currently 32.37%.

Analysts Set New Price Targets

CSX has been the topic of several research reports. Rothschild & Co Redburn raised their target price on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Citizens Jmp initiated coverage on shares of CSX in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $59.00 price target on shares of CSX in a report on Friday, July 24th. Stifel Nicolaus set a $54.00 price objective on CSX in a report on Thursday, July 23rd. Finally, Citigroup increased their target price on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Eighteen investment 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, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

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.