Tocqueville Asset Management L.P. Buys Shares of 17,352 CSX Corporation $CSX

Tocqueville Asset Management L.P. purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 17,352 shares of the transportation company’s stock, valued at approximately $825,000.

Several other large investors have also recently made changes to their positions in the stock. N.E.W. Advisory Services LLC purchased a new stake in CSX in the second quarter valued at approximately $27,000. WFA of San Diego LLC purchased a new stake in shares of CSX in the 2nd quarter valued at $28,000. 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 valued at $32,000 after acquiring an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC boosted 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 period. Finally, Meeder Asset Management Inc. purchased a new stake in CSX during the 2nd quarter worth about $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CSX

In related news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the sale, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 189,708 shares of company stock worth $9,132,304 in the last 90 days. Company insiders own 0.30% of the company’s stock.

CSX Stock Up 0.6%

Shares of NASDAQ CSX opened at $50.97 on Friday. The stock has a market cap of $94.42 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The business has a 50-day moving average price of $49.30 and a 200 day moving average price of $45.11.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 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 company 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 company posted $0.44 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $41.00 price objective (up from $37.00) on shares of CSX in a research note on Thursday, April 23rd. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Robert W. Baird increased their target price on CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Barclays restated an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Bank of America upped their price objective on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX 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.