Kinloch Capital LLC Purchases New Position in CSX Corporation $CSX

Kinloch Capital LLC purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,947 shares of the transportation company’s stock, valued at approximately $520,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSX. N.E.W. Advisory Services LLC purchased a new stake in shares of CSX in the second quarter worth approximately $27,000. WFA of San Diego LLC bought a new position in shares of CSX in the second quarter valued at approximately $28,000. Manning & Napier Advisors LLC purchased a new position in shares of CSX during the second quarter valued at approximately $30,000. Arlington Trust Co LLC boosted its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares during the last quarter. Finally, Wilkerson Advisory Group LLC grew its holdings in CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after buying an additional 409 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Insider Activity at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the sale, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CSX has been the subject of a number of analyst reports. Citigroup increased their price target on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 price objective on shares of CSX in a report on Monday, July 13th. Rothschild & Co Redburn upped their target price on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Benchmark reiterated a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Finally, Bank of America raised their price target on shares of CSX from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Performance

Shares of CSX opened at $51.44 on Tuesday. The stock has a 50 day moving average of $49.46 and a 200 day moving average of $45.28. The company has a market capitalization 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 12 month low of $31.80 and a 12 month high of $53.60. 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 earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the firm posted $0.44 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

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