CSX Corporation $CSX Stock Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC grew its position in shares of CSX Corporation (NASDAQ:CSX) by 57.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,535 shares of the transportation company’s stock after buying an additional 14,494 shares during the quarter. Modera Wealth Management LLC’s holdings in CSX were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CSX. Archer Investment Corp bought a new position in shares of CSX in the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC acquired a new position in shares of CSX in the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. bought a new stake in CSX during the 2nd quarter worth approximately $29,000. Manning & Napier Advisors LLC bought a new stake in CSX during the 2nd quarter worth approximately $30,000. Finally, Arlington Trust Co LLC grew its position in CSX by 58.0% during the 2nd 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. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $51.99 on Monday. The firm has a market capitalization of $95.84 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. The business’s fifty day moving average price is $48.86 and its two-hundred day moving average price is $45.51. CSX Corporation has a 52 week low of $33.63 and a 52 week high of $53.60.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.96 billion. CSX had a return on equity of 25.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. On average, analysts predict that CSX Corporation will post 2.04 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio is presently 29.02%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CSX. Weiss Ratings raised CSX from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Stifel Nicolaus set a $54.00 price objective on CSX in a research note on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and set a $52.00 target price (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Barclays restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Finally, TD Cowen restated a “buy” rating and issued a $55.00 target price (up from $54.00) on shares of CSX in a research note on Thursday, October 22nd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $52.20.

Insider Transactions at CSX

In other news, Director John Zillmer sold 19,500 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the transaction, the director owned 334,214 shares of the company’s stock, valued at approximately $17,125,125.36. This trade represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.