Glenview Trust Co Purchases New Shares in CSX Corporation $CSX

Glenview Trust Co purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, Holdings Channel.com reports. The fund purchased 214,903 shares of the transportation company’s stock, valued at approximately $10,214,000.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after acquiring an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of CSX by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock worth $2,428,000 after buying an additional 2,281 shares during the last quarter. WFA of San Diego LLC purchased a new stake in CSX during the second quarter worth about $28,000. Captrust Financial Advisors raised its position in CSX by 0.8% in the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after acquiring an additional 3,162 shares during the period. Finally, Horizon Investments LLC raised its position in CSX by 22.5% in the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after acquiring an additional 27,280 shares during the period. 73.57% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,708 shares of company stock worth $9,132,304 over the last quarter. 0.30% of the stock is owned by corporate insiders.

CSX Trading Down 0.4%

NASDAQ:CSX opened at $51.54 on Friday. The company has a market cap of $95.48 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.36 and a beta of 1.21. The stock’s fifty day moving average price is $49.80 and its two-hundred day moving average price is $45.53. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. 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 (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts expect 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 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 of this dividend is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CSX shares. Stifel Nicolaus set a $54.00 price target on shares of CSX in a research note on Thursday, July 23rd. Benchmark restated a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Citigroup upped their price target on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company 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.