Foster & Motley Inc. Buys New Shares in CSX Corporation $CSX

Foster & Motley Inc. acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 34,518 shares of the transportation company’s stock, valued at approximately $1,641,000.

A number of other large investors have also recently made changes to their positions in CSX. BlackRock Inc. purchased a new stake in shares of CSX in the 2nd quarter valued at approximately $7,655,277,000. Bank of New York Mellon Corp acquired a new stake in shares of CSX in the 2nd quarter valued at $950,325,000. Deutsche Bank AG purchased a new stake in shares of CSX during the 2nd quarter worth $685,418,000. Cohen & Steers Inc. lifted its position in shares of CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after purchasing an additional 98,977 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CSX during the second quarter worth $224,809,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $50.68 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The stock has a fifty day moving average price of $49.23 and a 200 day moving average price of $45.01. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a market cap of $93.88 billion, a PE ratio of 29.29, a P/E/G ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last released its earnings results 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. The company 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%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. Sell-side analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 currently 32.37%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSX. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 price objective (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Evercore set a $51.00 target price on CSX in a research note on Thursday, July 23rd. TD Cowen boosted their target price on CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Argus set a $56.00 price target on CSX in a report on Friday, July 31st. Finally, Jefferies Financial Group increased their price target on shares of CSX from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insider Buying and Selling at CSX

In related news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction on 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 of the company’s stock, valued at $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction dated Friday, July 24th. The stock was 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 of the company’s stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 in the last quarter. Insiders own 0.30% of the company’s stock.

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.