Arizona State Retirement System Buys 36,770 Shares of CSX Corporation $CSX

Arizona State Retirement System increased its stake in CSX Corporation (NASDAQ:CSX) by 7.2% in the 2nd quarter, Holdings Channel reports. The firm owned 546,962 shares of the transportation company’s stock after purchasing an additional 36,770 shares during the period. Arizona State Retirement System’s holdings in CSX were worth $27,963,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Washington Trust Advisors Inc. lifted its stake in shares of CSX by 7.2% in the second quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company’s stock worth $149,000 after buying an additional 211 shares during the last quarter. Arlington Trust Co LLC boosted its stake in CSX by 58.0% during the 2nd 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 period. Greenleaf Trust increased its position in CSX by 0.4% in the 2nd quarter. Greenleaf Trust now owns 69,023 shares of the transportation company’s stock worth $3,281,000 after buying an additional 263 shares during the period. Syon Capital LLC grew its stake in shares of CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after acquiring an additional 287 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in CSX by 1.7% during the second quarter. Parkside Financial Bank & Trust now owns 18,038 shares of the transportation company’s stock worth $874,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Buying and Selling

In other CSX news, CAO Angela Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael 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 directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by company insiders.

CSX Price Performance

CSX stock traded down $0.41 on Tuesday, reaching $49.00. The company’s stock had a trading volume of 7,452,859 shares, compared to its average volume of 12,778,660. The business’s fifty day moving average price is $50.19 and its 200 day moving average price is $45.95. 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 company has a market cap of $90.77 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.32 and a beta of 1.21. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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

Analyst Ratings Changes

CSX has been the subject of several research reports. Benchmark reiterated a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Robert W. Baird raised their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Barclays reissued an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, Wall Street Zen lowered CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

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.