WNY Asset Management LLC Takes $624,000 Position in CSX Corporation $CSX

WNY Asset Management LLC purchased a new position in CSX Corporation (NASDAQ:CSX) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 13,137 shares of the transportation company’s stock, valued at approximately $624,000.

Several other large investors have also recently made changes to their positions in the company. Bank OZK purchased a new stake in shares of CSX during the second quarter worth approximately $5,027,000. Hamilton Capital LLC purchased a new position in CSX in the 2nd quarter valued at $201,000. Old North State Trust LLC acquired a new stake in CSX during the 2nd quarter worth $932,000. Caitlin John LLC acquired a new stake in CSX during the 2nd quarter worth $517,000. Finally, Equitable Holdings Inc. purchased a new stake in shares of CSX during the second quarter worth $2,501,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was 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 directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,708 shares of company stock worth $9,132,304 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Argus set a $56.00 target price on shares of CSX in a research report on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Stephens assumed coverage on shares of CSX in a report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price objective for the company. Raymond James Financial reissued an “outperform” rating and issued a $56.00 target price on shares of CSX in a research note on Monday, July 13th. Finally, Truist Financial set a $46.00 target price on CSX in a report on Friday, July 10th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Performance

CSX stock opened at $51.54 on Friday. The firm has a 50 day simple moving average of $49.80 and a 200-day simple moving average of $45.53. The stock has a market cap of $95.48 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.36 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 1-year low of $31.80 and a 1-year high of $53.60.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. 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 company earned $0.44 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

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

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.