Level Four Advisory Services LLC bought a new position in shares of CSX Corporation (NASDAQ:CSX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,506 shares of the transportation company’s stock, valued at approximately $212,000.
Other large investors have also recently modified their holdings of the company. Assetmark Inc. boosted its position in CSX Corporation by 8.7% in the first quarter. Assetmark Inc. now owns 2,186 shares of the transportation company’s stock valued at $102,000 after buying an additional 175 shares in the last quarter. LBA Wealth Management LLC boosted its position in CSX Corporation by 323.1% in the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock valued at $122,000 after buying an additional 2,000 shares in the last quarter. Financial Architects Inc boosted its position in CSX Corporation by 1.9% in the first quarter. Financial Architects Inc now owns 2,650 shares of the transportation company’s stock valued at $124,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC boosted its position in CSX Corporation by 0.3% in the first quarter. MCF Advisors LLC now owns 2,832 shares of the transportation company’s stock valued at $132,000 after buying an additional 9 shares in the last quarter. Finally, Hefty Wealth Partners bought a new position in CSX Corporation during the first quarter valued at $146,000. 69.32% of the stock is currently owned by institutional investors.
Shares of CSX Corporation (NASDAQ CSX) opened at 50.82 on Tuesday. The firm has a market cap of $46.41 billion, a price-to-earnings ratio of 26.58 and a beta of 1.32. CSX Corporation has a 12 month low of $27.46 and a 12 month high of $55.48. The firm has a 50-day moving average of $53.57 and a 200-day moving average of $49.42.
CSX Corporation (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. On average, analysts anticipate that CSX Corporation will post $2.30 EPS for the current year.
CSX Corporation announced that its Board of Directors has initiated a share buyback plan on Thursday, April 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the transportation company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.57%. CSX Corporation’s dividend payout ratio (DPR) is 41.88%.
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CSX has been the topic of several research analyst reports. Aegis raised shares of CSX Corporation from a “hold” rating to a “buy” rating and increased their price target for the company from $50.00 to $64.00 in a report on Friday, April 21st. TD Securities reissued a “buy” rating and issued a $64.00 price target (up from $57.00) on shares of CSX Corporation in a report on Friday, April 21st. UBS AG reissued a “buy” rating and issued a $60.00 price target (up from $57.00) on shares of CSX Corporation in a report on Monday, April 24th. BMO Capital Markets reissued a “buy” rating and issued a $58.00 price target on shares of CSX Corporation in a report on Friday, April 21st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $65.00 price target (up from $56.00) on shares of CSX Corporation in a report on Tuesday, June 6th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.74.
In other CSX Corporation news, Director Ridge Lp Mantle acquired 1,357,000 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was bought at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the purchase, the director now owns 106 shares of the company’s stock, valued at $5,468.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.79% of the stock is currently owned by corporate insiders.
About CSX Corporation
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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