14,585 Shares in CSX Corporation $CSX Acquired by Evolve Private Wealth LLC

Evolve Private Wealth LLC bought a new stake in CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,585 shares of the transportation company’s stock, valued at approximately $693,000.

A number of other large investors also recently bought and sold shares of the stock. Canada Post Corp Registered Pension Plan grew its stake in shares of CSX by 34.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after buying an additional 24,566 shares during the period. M. Kulyk & Associates LLC purchased a new position in shares of CSX in the 2nd quarter worth $8,145,000. Wealthfront Advisers LLC purchased a new position in shares of CSX in the 2nd quarter worth $7,609,000. First National Bank of Omaha acquired a new position in CSX in the second quarter valued at $6,248,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in CSX in the second quarter valued at $6,598,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX opened at $51.44 on Tuesday. The stock’s fifty day simple moving average is $49.46 and its 200 day simple moving average is $45.28. The stock 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. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60.

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, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.CSX’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. As a group, sell-side analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is currently 32.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TD Cowen increased their target price on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Barclays reiterated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Bank of America raised their target price on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Stephens started coverage on shares of CSX in a research note on Wednesday, July 8th. They set an “overweight” rating and a $57.00 target price for the company. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Buying and Selling at CSX

In related news, SVP Michael S. 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 value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 over the last quarter. Company insiders own 0.30% of the company’s stock.

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.