Inscription Capital LLC Takes Position in CSX Co. (NASDAQ:CSX)

Inscription Capital LLC acquired a new stake in CSX Co. (NASDAQ:CSX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,768 shares of the transportation company’s stock, valued at approximately $506,000.

A number of other large investors have also added to or reduced their stakes in the stock. Gemmer Asset Management LLC lifted its holdings in CSX by 220.1% during the second quarter. Gemmer Asset Management LLC now owns 858 shares of the transportation company’s stock worth $28,000 after buying an additional 590 shares during the period. Bellevue Asset Management LLC lifted its stake in shares of CSX by 200.0% during the 2nd quarter. Bellevue Asset Management LLC now owns 900 shares of the transportation company’s stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CSX during the second quarter valued at about $31,000. Strategic Blueprint LLC purchased a new position in CSX in the second quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. bought a new position in CSX in the second quarter worth about $33,000. 71.79% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on CSX. Susquehanna lifted their price objective on shares of CSX from $37.00 to $38.00 and gave the stock a “positive” rating in a research report on Thursday, July 22nd. Stifel Nicolaus lifted their price target on shares of CSX from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, July 22nd. Atlantic Securities started coverage on CSX in a research report on Monday, July 12th. They set an “overweight” rating and a $40.00 price target on the stock. Royal Bank of Canada cut CSX from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $37.00 to $32.00 in a research report on Friday, September 17th. Finally, raised CSX from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $34.70.

NASDAQ:CSX opened at $32.58 on Thursday. The company has a fifty day moving average of $31.99 and a two-hundred day moving average of $32.90. CSX Co. has a fifty-two week low of $25.13 and a fifty-two week high of $34.96. The stock has a market capitalization of $73.45 billion, a PE ratio of 22.01, a P/E/G ratio of 1.80 and a beta of 1.14. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.20 and a current ratio of 2.34.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. CSX had a net margin of 29.93% and a return on equity of 23.96%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. Research analysts forecast that CSX Co. will post 1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th will be paid a $0.093 dividend. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Monday, November 29th. CSX’s dividend payout ratio is presently 30.33%.

In related news, Director John J. Zillmer sold 80,000 shares of the company’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $32.64, for a total transaction of $2,611,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nathan D. Goldman sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $32.87, for a total value of $1,150,450.00. The disclosure for this sale can be found here. Insiders sold 291,487 shares of company stock worth $9,367,739 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

CSX Profile

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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