178,492 Shares in CSX Corporation $CSX Acquired by Robinhood Asset Management LLC

Robinhood Asset Management LLC acquired a new stake in CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 178,492 shares of the transportation company’s stock, valued at approximately $8,484,000.

Other institutional investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in shares of CSX during the 2nd quarter valued at $27,000. Arlington Trust Co LLC boosted its position in shares of CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of CSX during the second quarter worth $34,000. Allied Private Wealth LLC acquired a new stake in shares of CSX during the second quarter worth $37,000. Finally, Wilkerson Advisory Group LLC increased its holdings in CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ CSX opened at $51.59 on Friday. The firm’s 50 day moving average is $49.38 and its 200-day moving average is $45.15. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $95.57 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.33 and a beta of 1.21. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial set a $46.00 target price on CSX in a research note on Friday, July 10th. Benchmark restated a “buy” rating and set a $54.00 target price (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Citigroup upped their price target on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Raymond James Financial reiterated an “outperform” rating and issued a $56.00 price target on shares of CSX in a research report on Monday, July 13th. Finally, Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling

In other CSX 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 completion of the transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at $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 three months, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by company insiders.

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.