Trust Co. of Vermont Acquires New Shares in CSX Corporation $CSX

Trust Co. of Vermont bought a new stake in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, Holdings Channel reports. The fund bought 72,367 shares of the transportation company’s stock, valued at approximately $3,440,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC acquired a new position in shares of CSX during the 2nd quarter worth about $27,000. WFA of San Diego LLC bought a new stake in shares of CSX in the 2nd quarter valued at about $28,000. Arlington Trust Co LLC raised its position in shares of CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Wilkerson Advisory Group LLC raised its position in shares of CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares during the period. Finally, Allied Private Wealth LLC bought a new position in CSX during the 2nd quarter worth approximately $37,000. Institutional investors own 73.57% of the company’s stock.

Insider Activity at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 189,708 shares of company stock valued at $9,132,304. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Cowen boosted their price objective on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Stephens initiated coverage on shares of CSX in a research report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price target on the stock. Barclays reissued an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Finally, New Street Research set a $49.00 price objective on shares of CSX in a research report on Thursday, April 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Trading Up 0.8%

NASDAQ:CSX opened at $50.58 on Tuesday. 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 business’s 50-day simple moving average is $49.08 and its 200-day simple moving average is $44.83. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The stock has a market capitalization 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.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.CSX’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. Sell-side analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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

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.