Yukon Wealth Management Inc. Acquires Shares of 17,282 CSX Corporation $CSX

Yukon Wealth Management Inc. acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 17,282 shares of the transportation company’s stock, valued at approximately $821,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of CSX during the second quarter worth $7,655,277,000. XXEC Inc. bought a new position in shares of CSX in the second quarter worth about $765,595,000. Bank of America Corp DE bought a new position in shares of CSX in the second quarter worth about $1,598,962,000. Bank of New York Mellon Corp bought a new position in shares of CSX in the second quarter worth about $950,325,000. Finally, Legal & General Group Plc purchased a new position in CSX in the 2nd quarter worth about $747,001,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Bank of America boosted their target price on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Susquehanna raised CSX from a “neutral” rating to a “positive” rating and upped their target price for the company from $50.00 to $58.00 in a research report on Tuesday, July 14th. Citizens Jmp assumed coverage on CSX in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Finally, Barclays restated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Eighteen investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insiders Place Their Bets

In other CSX news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 189,708 shares of company stock valued at $9,132,304 in the last three months. Corporate insiders own 0.30% of the company’s stock.

CSX Trading Down 0.4%

Shares of CSX opened at $51.54 on Friday. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The stock has a market cap of $95.48 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The firm’s fifty day moving average is $49.80 and its two-hundred day moving average is $45.53. 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 issued its quarterly earnings data 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. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Research analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid 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 dividend payout ratio (DPR) 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.