Trivium Point Advisory LLC Purchases Shares of 16,289 CSX Corporation $CSX

Trivium Point Advisory LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,289 shares of the transportation company’s stock, valued at approximately $774,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arlington Trust Co LLC grew its position in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares during the period. Syon Capital LLC lifted its position in shares of CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after acquiring an additional 287 shares during the period. Root Financial Partners LLC lifted its position in shares of CSX by 7.3% during the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after acquiring an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC boosted its stake in CSX by 2.7% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after acquiring an additional 346 shares in the last quarter. Finally, Sumitomo Life Insurance Co. boosted its stake in CSX by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after acquiring an additional 347 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Citigroup raised their price target on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Vertical Research lowered shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a report on Thursday, April 23rd. Wells Fargo & Company increased their price objective on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Rothschild & Co Redburn raised their target price on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $56.00 target price on shares of CSX in a research report on Monday, July 13th. Eighteen 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. This represents a 74.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $6,384,263.60. Following the completion of the sale, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 189,708 shares of company stock valued at $9,132,304. Insiders own 0.30% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $50.16 on Monday. The company has a fifty day simple moving average of $49.02 and a 200 day simple moving average of $44.74. 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. The company has a market cap of $92.92 billion, a P/E ratio of 28.99, a PEG ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS 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 business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the business posted $0.44 EPS. CSX’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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

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.