Inscription Capital LLC Makes New $506,000 Investment in CSX Co. (NASDAQ:CSX)

Inscription Capital LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,768 shares of the transportation company’s stock, valued at approximately $506,000.

A number of other hedge funds have also modified their holdings of the business. Lincoln National Corp increased its position in shares of CSX by 192.1% during the second quarter. Lincoln National Corp now owns 28,596 shares of the transportation company’s stock valued at $917,000 after buying an additional 18,805 shares during the period. Alpha Paradigm Partners LLC purchased a new stake in shares of CSX in the 2nd quarter valued at about $76,000. Nachman Norwood & Parrott Inc increased its position in shares of CSX by 194.7% in the second quarter. Nachman Norwood & Parrott Inc now owns 38,061 shares of the transportation company’s stock worth $1,221,000 after purchasing an additional 25,146 shares during the last quarter. Sigma Planning Corp grew its stake in CSX by 205.9% in the 2nd quarter. Sigma Planning Corp now owns 42,452 shares of the transportation company’s stock worth $1,362,000 after buying an additional 28,576 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in CSX by 199.8% in the 2nd quarter. 180 Wealth Advisors LLC now owns 17,037 shares of the transportation company’s stock worth $561,000 after buying an additional 11,355 shares during the last quarter. 71.79% of the stock is currently owned by institutional investors and hedge funds.

In other CSX news, Director John J. Zillmer sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $33.54, for a total value of $503,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Zillmer sold 80,000 shares of the firm’s stock in a transaction on Monday, July 26th. The shares were sold at an average price of $32.64, for a total transaction of $2,611,200.00. The disclosure for this sale can be found here. Insiders have sold 291,487 shares of company stock worth $9,367,739 over the last quarter. 0.60% of the stock is owned by company insiders.

NASDAQ CSX opened at $32.58 on Thursday. The company has a 50-day moving average price of $31.99 and a 200-day moving average price of $32.90. CSX Co. has a 52 week low of $25.13 and a 52 week high of $34.96. The company has a quick ratio of 2.20, a current ratio of 2.34 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $73.45 billion, a P/E ratio of 22.01, a PEG ratio of 1.80 and a beta of 1.14.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. CSX had a net margin of 29.93% and a return on equity of 23.96%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Co. will post 1.51 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Tuesday, November 30th will be issued a $0.093 dividend. The ex-dividend date of this dividend is Monday, November 29th. This represents a $0.37 dividend on an annualized basis and a yield of 1.14%. CSX’s dividend payout ratio is currently 30.33%.

Several research analysts have commented on the stock. raised shares of CSX from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 29th. Atlantic Securities began coverage on shares of CSX in a research note on Monday, July 12th. They issued an “overweight” rating and a $40.00 price target for the company. Wells Fargo & Company raised their price objective on CSX from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, July 22nd. Stifel Nicolaus boosted their target price on CSX from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, July 22nd. Finally, UBS Group raised their price target on CSX from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.70.

About CSX

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

Recommended Story: Federal Reserve

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.