HBK Sorce Advisory LLC Acquires New Holdings in CSX Corporation $CSX

HBK Sorce Advisory LLC bought a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,418 shares of the transportation company’s stock, valued at approximately $890,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Arlington Trust Co LLC grew its position in 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. Syon Capital LLC raised its holdings in shares of CSX by 1.0% during the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after buying an additional 287 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after buying an additional 323 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted its position in shares of CSX by 2.7% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after buying an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its position in shares of CSX by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after buying an additional 347 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CSX. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. New Street Research set a $49.00 price target on CSX in a research report on Thursday, April 23rd. Vertical Research cut CSX from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a research note on Thursday, April 23rd. Evercore set a $51.00 price target on CSX in a report on Thursday, July 23rd. Finally, Bank of America raised their price target on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Price Performance

Shares of NASDAQ:CSX opened at $50.16 on Monday. The stock has a market cap of $92.92 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The stock’s 50 day moving average price is $49.02 and its 200 day moving average price is $44.74.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued 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 dividend payout ratio is 32.37%.

Insider Transactions at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the firm’s 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 completion of the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of CSX 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 directly owned 208,622 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 189,708 shares of company stock worth $9,132,304. Corporate 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.