Sanctuary Advisors LLC Purchases New Shares in CSX Corporation $CSX

Sanctuary Advisors LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 247,456 shares of the transportation company’s stock, valued at approximately $11,762,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Canada Post Corp Registered Pension Plan raised its position in CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after purchasing an additional 24,566 shares during the last quarter. M. Kulyk & Associates LLC bought a new position in CSX in the 2nd quarter valued at $8,145,000. Wealthfront Advisers LLC bought a new position in CSX in the 2nd quarter valued at $7,609,000. First National Bank of Omaha acquired a new stake in shares of CSX in the 2nd quarter valued at $6,248,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of CSX in the 2nd quarter valued at $6,598,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. TD Cowen boosted their target price on CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Argus set a $56.00 price objective on CSX in a research report on Friday, July 31st. Royal Bank Of Canada reissued an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating and upped their target price for the company from $50.00 to $58.00 in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus set a $54.00 target price on shares of CSX in a research note on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Performance

Shares of CSX stock opened at $51.59 on Monday. The firm has a fifty day moving average of $49.38 and a two-hundred day moving average of $45.20. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The stock has a market capitalization of $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60.

CSX (NASDAQ:CSX) last posted its quarterly 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. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $0.44 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend 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%.

Insider Buying and Selling

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the firm’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 transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction dated 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 owned 208,622 shares of the company’s stock, valued at $9,742,647.40. The trade was a 39.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

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.