OneDigital Investment Advisors LLC Buys Shares of 44,033 CSX Corporation $CSX

OneDigital Investment Advisors LLC acquired a new stake in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,033 shares of the transportation company’s stock, valued at approximately $2,093,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in shares of CSX during the second quarter worth about $950,325,000. Pinebridge Investments LLC acquired a new position in CSX in the 4th quarter valued at $5,979,000. Old West Investment Management LLC purchased a new position in shares of CSX during the 2nd quarter worth $5,652,000. Cohen & Steers Inc. lifted its stake 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 purchasing an additional 98,977 shares during the period. Finally, Baxter Bros Inc. acquired a new stake in shares of CSX during the second quarter worth $4,672,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSX. Wall Street Zen lowered CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Vertical Research cut CSX from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a report on Thursday, April 23rd. TD Cowen upped 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Wolfe Research reiterated an “outperform” rating and set a $50.00 price objective on shares of CSX in a report on Thursday, April 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $50.16 on Monday. The business has a 50-day moving average of $49.02 and a two-hundred day moving average of $44.74. The firm has a market capitalization of $92.92 billion, a PE ratio of 28.99, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. 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 payout ratio is currently 32.37%.

Insider Activity

In other CSX news, SVP Michael S. Burns sold 13,000 shares of CSX 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 sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was 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 in the company, valued at $556,187.73. This represents a 74.19% decrease in their position. 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 over the last ninety days. Insiders own 0.30% of the company’s stock.

About CSX

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.