Global Retirement Partners LLC Acquires New Stake in CSX Corporation $CSX

Global Retirement Partners LLC purchased a new position in CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,000 shares of the transportation company’s stock, valued at approximately $3,897,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter worth approximately $28,000. Arlington Trust Co LLC increased its holdings in CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Wilkerson Advisory Group LLC raised its position in CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares in the last quarter. Allied Private Wealth LLC purchased a new stake in shares of CSX in the 2nd quarter worth $37,000. Finally, CrossGen Wealth LLC bought a new position in shares of CSX during the 4th quarter worth $54,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $50.16 on Monday. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The business has a fifty day moving average price of $49.02 and a 200-day moving average price of $44.74. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The stock has a market capitalization of $92.92 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

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

Insider Activity at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 189,708 shares of company stock valued at $9,132,304. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CSX. Jefferies Financial Group upped their price target on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $59.00 target price on shares of CSX in a report on Friday, July 24th. Truist Financial set a $46.00 target price on CSX in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Citigroup upped their price objective on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently 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.