52,290 Shares in CSX Corporation $CSX Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 52,290 shares of the transportation company’s stock, valued at approximately $2,485,000.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. Brighton Jones LLC increased its holdings in shares of CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in 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 valued at $2,428,000 after buying an additional 2,281 shares during the last quarter. WFA of San Diego LLC acquired a new position in CSX in the 2nd quarter worth approximately $28,000. Captrust Financial Advisors increased its holdings in CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after buying an additional 3,162 shares during the period. Finally, Horizon Investments LLC raised its position in CSX by 22.5% during the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after buying an additional 27,280 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 189,708 shares of company stock valued at $9,132,304. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $52.00 target price (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Citizens Jmp assumed coverage on CSX in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 price target (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Finally, Citigroup upped their price objective on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Stock Down 0.7%

CSX opened at $50.24 on Wednesday. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $49.14 and a 200 day moving average price of $44.92. The company has a market cap of $93.07 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21.

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

CSX Dividend Announcement

The company 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 $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is 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.