Gables Capital Management Inc. Buys Shares of 12,800 CSX Corporation $CSX

Gables Capital Management Inc. purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,800 shares of the transportation company’s stock, valued at approximately $608,000.

Several other institutional investors have also modified their holdings of CSX. Wealthfront Advisers LLC bought a new stake in CSX during the 2nd quarter worth approximately $7,609,000. Foster & Motley Inc. bought a new position in CSX in the second quarter valued at approximately $1,641,000. Strategic Wealth Advisors LLC bought a new position in CSX in the second quarter valued at approximately $79,000. Main Street Financial Solutions LLC boosted its holdings in shares of CSX by 9.7% in the second quarter. Main Street Financial Solutions LLC now owns 6,115 shares of the transportation company’s stock valued at $291,000 after buying an additional 540 shares during the period. Finally, First National Bank of Omaha acquired a new position in shares of CSX in the second quarter valued at approximately $6,248,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX opened at $50.24 on Wednesday. The stock has a 50 day moving average price of $49.14 and a 200 day moving average price of $44.92. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. 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 $93.07 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21.

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

CSX Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

Analysts Set New Price Targets

A number of brokerages recently commented on CSX. Citigroup raised their price objective on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group increased their target price on CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. TD Cowen lifted their price target on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Rothschild & Co Redburn boosted their price target on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. Eighteen 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. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Activity

In other news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is owned by 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.