Flputnam Investment Management Co. Makes New Investment in CSX Corporation $CSX

Flputnam Investment Management Co. acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,886 shares of the transportation company’s stock, valued at approximately $517,000.

A number of other institutional investors also recently made changes to their positions in the company. Arlington Trust Co LLC grew its position in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares during the last quarter. Syon Capital LLC lifted its holdings in CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after purchasing an additional 287 shares during the last quarter. Root Financial Partners LLC lifted its holdings in CSX by 7.3% during the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted its stake in CSX by 2.7% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after purchasing an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its stake in CSX by 0.9% in the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock valued at $1,450,000 after purchasing an additional 347 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $50.58 on Tuesday. The firm has a market cap of $93.70 billion, a PE ratio of 29.24, a price-to-earnings-growth 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. The stock’s fifty day moving average price is $49.08 and its two-hundred day moving average price is $44.83. CSX Corporation has a one year low of $31.80 and a one year high of $53.60.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating 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 revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. As a group, research analysts expect that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is 32.37%.

Analysts Set New Price Targets

A number of brokerages have commented on CSX. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Morgan Stanley set a $32.00 price target on shares of CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Robert W. Baird upped their price target on shares of CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Finally, Bank of America raised their price target on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Activity

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This trade represents a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is owned by company insiders.

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.