Pavion Blue Capital LLC Takes Position in CSX Corporation $CSX

Pavion Blue Capital LLC bought a new stake in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,023 shares of the transportation company’s stock, valued at approximately $476,000.

Other large investors have also added to or reduced their stakes in the company. Conway Capital Management Inc. bought a new stake in CSX in the second quarter worth approximately $1,854,000. Lee Johnson Capital Management LLC bought a new position in shares of CSX during the 2nd quarter worth approximately $921,000. MidFirst Bank bought a new position in shares of CSX during the 2nd quarter worth approximately $147,000. BlackRock Inc. bought a new position in shares of CSX during the 2nd quarter worth approximately $7,655,277,000. Finally, Dunhill Financial LLC acquired a new stake in shares of CSX during the 2nd quarter worth approximately $168,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Buying and Selling at CSX

In other news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 189,708 shares of company stock worth $9,132,304. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSX. TD Cowen lifted their price objective on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Evercore set a $51.00 target price on shares of CSX in a research note on Thursday, July 23rd. Wells Fargo & Company raised their price target on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $41.00 price target (up from $37.00) on shares of CSX in a research note on Thursday, April 23rd. Finally, Wolfe Research reiterated an “outperform” rating and set a $50.00 price objective on shares of CSX in a report on Thursday, April 23rd. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Trading Up 0.8%

NASDAQ CSX opened at $50.58 on Tuesday. 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. The business has a 50 day moving average price of $49.08 and a 200-day moving average price of $44.83. The company has a market cap of $93.70 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping 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 company 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 earned $0.44 EPS. CSX’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 annualized dividend and a yield of 1.1%. CSX’s dividend payout ratio is presently 32.37%.

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.