Kinloch Capital LLC Takes $520,000 Position in CSX Corporation $CSX

Kinloch Capital LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,947 shares of the transportation company’s stock, valued at approximately $520,000.

Other large investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its stake in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Syon Capital LLC lifted its holdings in CSX by 1.0% during the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after purchasing an additional 287 shares during the last quarter. Root Financial Partners LLC boosted its position in CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC boosted its position in CSX by 2.7% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after purchasing an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. increased its stake in shares of CSX by 0.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after purchasing an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insider Activity

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction 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 approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 189,708 shares of company stock worth $9,132,304. Insiders own 0.30% of the company’s stock.

CSX Stock Down 0.3%

CSX stock opened at $51.44 on Tuesday. The stock has a 50-day simple moving average of $49.46 and a two-hundred day simple moving average of $45.28. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The firm has a market capitalization of $95.29 billion, a PE ratio of 29.73, a PEG ratio of 2.36 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.89 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities 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. Investors of record on Monday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is 32.37%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 price target (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Evercore set a $51.00 price objective on shares of CSX in a report on Thursday, July 23rd. TD Cowen lifted their price objective on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Finally, Bank of America boosted their target price on shares of CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.31.

CSX Company 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.