XXEC Inc. Takes $2.95 Million Position in CSX Corporation $CSX

XXEC Inc. purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, HoldingsChannel.com reports. The firm purchased 63,806 shares of the transportation company’s stock, valued at approximately $2,947,000. CSX accounts for approximately 0.0% of XXEC Inc.’s portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in CSX in the 2nd quarter valued at about $27,000. WFA of San Diego LLC acquired a new stake in shares of CSX during the second quarter valued at about $28,000. Manning & Napier Advisors LLC purchased a new stake in shares of CSX during the second quarter worth about $30,000. Arlington Trust Co LLC increased its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares during the last quarter. Finally, First Bancorp Inc ME purchased a new stake in shares of CSX during the second quarter worth about $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen increased their price target on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Stephens initiated coverage on CSX in a report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price objective on the stock. Stifel Nicolaus set a $54.00 target price on CSX in a research report on Thursday, July 23rd. Susquehanna raised shares of CSX from a “neutral” rating to a “positive” rating and raised their price target for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. Finally, Benchmark reissued a “buy” rating and set a $54.00 price target (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

Insider Buying and Selling at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the sale, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the 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 sale, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 189,708 shares of company stock valued at $9,132,304. Corporate insiders own 0.30% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $51.54 on Friday. 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 capitalization of $95.48 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The business has a 50 day simple moving average of $49.80 and a 200-day simple moving average of $45.53.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that CSX Corporation will post 2 earnings per share for the current 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 given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) 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.