Lee Johnson Capital Management LLC Acquires New Stake in CSX Corporation $CSX

Lee Johnson Capital Management LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,368 shares of the transportation company’s stock, valued at approximately $921,000.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC grew its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after purchasing an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in 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 valued at $2,428,000 after purchasing an additional 2,281 shares in the last quarter. WFA of San Diego LLC acquired a new stake in CSX in the 2nd quarter valued at about $28,000. Captrust Financial Advisors boosted its stake in shares of CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after buying an additional 3,162 shares during the period. Finally, Horizon Investments LLC boosted its stake in shares of CSX by 22.5% in the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after buying an additional 27,280 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CSX. JPMorgan Chase & Co. boosted their price objective on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Rothschild & Co Redburn lifted their price target on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Barclays reiterated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price objective on shares of CSX in a report on Thursday, July 23rd. Finally, Argus set a $56.00 target price on shares of CSX in a research note on Friday, July 31st. 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 company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Transactions at CSX

In other news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 over the last three months. 0.30% of the stock is currently owned by company insiders.

CSX Stock Performance

Shares of CSX opened at $50.58 on Tuesday. The company has a market capitalization of $93.70 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average price of $49.08 and a 200 day moving average price of $44.83.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. Research analysts predict that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s payout ratio is 32.37%.

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.