Csenge Advisory Group Invests $520,000 in CSX Corporation $CSX

Csenge Advisory Group bought a new stake in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,931 shares of the transportation company’s stock, valued at approximately $520,000.

A number of other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in CSX during the 2nd quarter worth approximately $7,655,277,000. Bank of New York Mellon Corp bought a new stake in CSX in the 2nd quarter valued at $950,325,000. Deutsche Bank AG acquired a new position in CSX in the 2nd quarter valued at $685,418,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CSX in the 2nd quarter valued at $224,809,000. Finally, Great Lakes Advisors LLC bought a new position in CSX during the 2nd quarter worth $171,908,000. Institutional investors own 73.57% of the company’s stock.

Insider Activity

In related news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 189,708 shares of company stock valued at $9,132,304 over the last quarter. 0.30% of the stock is owned by corporate insiders.

CSX Stock Performance

CSX opened at $50.97 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The firm has a market cap of $94.42 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.21. The business’s fifty day moving average is $49.30 and its 200-day moving average is $45.11.

CSX (NASDAQ:CSX) last posted 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 return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. CSX’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts expect that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

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. The ex-dividend date 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%.

Wall Street Analyst Weigh In

CSX has been the subject of a number of research reports. BMO Capital Markets reissued 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $59.00 price target on shares of CSX in a research report on Friday, July 24th. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. New Street Research set a $49.00 price objective on shares of CSX in a report on Thursday, April 23rd. Finally, Citizens Jmp began coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus price target of $51.31.

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.