Trust Co. of Vermont Makes New $3.44 Million Investment in CSX Corporation $CSX

Trust Co. of Vermont purchased a new position in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 72,367 shares of the transportation company’s stock, valued at approximately $3,440,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in CSX during the second quarter worth $950,325,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CSX in the 2nd quarter valued at $224,809,000. Pinebridge Investments LLC acquired a new position in shares of CSX in the 4th quarter valued at $5,979,000. Old West Investment Management LLC acquired a new position in shares of CSX in the 2nd quarter valued at $5,652,000. Finally, Cohen & Steers Inc. lifted its holdings in shares of CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after acquiring an additional 98,977 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.8%

Shares of CSX opened at $50.58 on Tuesday. The business’s fifty day moving average price is $49.08 and its two-hundred day moving average price is $44.83. The firm has a market capitalization of $93.70 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.29 and a beta of 1.21. 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.

CSX (NASDAQ:CSX) last released its 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 company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on CSX. TD Cowen boosted their price target on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Bank of America lifted their price objective on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $54.00 target price on shares of CSX in a research note on Thursday, July 23rd. Stephens assumed coverage on shares of CSX in a report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 target price on the stock. Finally, Vertical Research cut shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a research report on Thursday, April 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction that occurred 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 sale, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by company insiders.

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.