Flputnam Investment Management Co. Purchases Shares of 10,886 CSX Corporation $CSX

Flputnam Investment Management Co. purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,886 shares of the transportation company’s stock, valued at approximately $517,000.

Other large investors also recently modified their holdings of the company. WFA of San Diego LLC acquired a new stake in shares of CSX in the second quarter valued at about $28,000. Arlington Trust Co LLC raised its holdings in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC boosted its position in CSX by 97.4% during the first 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 during the last quarter. Allied Private Wealth LLC acquired a new position in CSX during the second quarter valued at approximately $37,000. Finally, CrossGen Wealth LLC bought a new position in CSX in the fourth quarter valued at approximately $54,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Truist Financial set a $46.00 price target on CSX in a research report on Friday, July 10th. Benchmark reissued a “buy” rating and issued a $54.00 price objective (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Evercore set a $51.00 target price on shares of CSX in a research note on Thursday, July 23rd. Susquehanna raised shares of CSX from a “neutral” rating to a “positive” rating and raised their target price for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. Eighteen equities research 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 has a consensus rating of “Moderate Buy” and an average price target of $51.31.

CSX Trading Up 0.8%

CSX stock opened at $50.58 on Tuesday. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The stock has a market capitalization of $93.70 billion, a P/E ratio of 29.24, a PEG ratio of 2.29 and a beta of 1.21. The stock has a 50-day simple moving average of $49.08 and a 200 day simple moving average of $44.83.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s payout ratio is presently 32.37%.

Insiders Place Their Bets

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 in the last quarter. Insiders own 0.30% of the company’s stock.

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.