Tudor Financial Inc. Boosts Holdings in CSX Corporation $CSX

Tudor Financial Inc. raised its position in CSX Corporation (NASDAQ:CSX) by 1,915.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,066 shares of the transportation company’s stock after acquiring an additional 13,368 shares during the period. Tudor Financial Inc.’s holdings in CSX were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Archer Investment Corp purchased a new stake in shares of CSX during the 2nd quarter valued at $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the 2nd quarter worth $27,000. WFA of San Diego LLC purchased a new position in CSX during the 2nd quarter worth $28,000. Pin Oak Investment Advisors Inc. purchased a new position in CSX during the 2nd quarter worth $29,000. Finally, Manning & Napier Advisors LLC acquired a new position in CSX during the 2nd quarter valued at about $30,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CSX. Stephens began coverage on CSX in a report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. Barclays restated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Susquehanna raised shares of CSX from a “neutral” rating to a “positive” rating and increased their price objective for the company from $50.00 to $58.00 in a research report on Tuesday, July 14th. Truist Financial set a $46.00 target price on shares of CSX in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $54.00 target price (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

Insider Activity at CSX

In related news, CAO Angela Williams sold 30,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by corporate insiders.

CSX Stock Performance

Shares of CSX opened at $48.99 on Friday. The stock has a 50-day moving average of $50.13 and a two-hundred day moving average of $45.83. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The stock has a market cap of $90.75 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share 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 business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The company also recently announced 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. The ex-dividend date 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 is currently 32.37%.

CSX 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.