D.B. Root & Company LLC Buys Shares of 18,917 CSX Corporation $CSX

D.B. Root & Company LLC purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,917 shares of the transportation company’s stock, valued at approximately $899,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CSX. BlackRock Inc. acquired a new position in shares of CSX in the 2nd quarter worth approximately $7,655,277,000. XXEC Inc. purchased a new stake in CSX in the second quarter valued at approximately $765,595,000. Bank of New York Mellon Corp purchased a new stake in CSX in the second quarter valued at approximately $950,325,000. Deutsche Bank AG acquired a new position in CSX during the second quarter worth $685,418,000. Finally, Cohen & Steers Inc. lifted its stake in CSX by 1.2% during the fourth 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 in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction that occurred on 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 directly owned 353,714 shares in the company, 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. Over the last quarter, insiders have sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CSX has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $54.00 price objective (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Stifel Nicolaus set a $54.00 price target on shares of CSX in a research report on Thursday, July 23rd. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Morgan Stanley set a $32.00 target price on shares of CSX and gave the stock an “underweight” rating in a report on Monday, July 6th. Finally, Truist Financial set a $46.00 price target on shares of CSX in a research note on Friday, July 10th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Price Performance

CSX stock opened at $51.59 on Monday. The stock has a market cap of $95.57 billion, a P/E ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company’s 50 day moving average is $49.38 and its two-hundred day moving average is $45.20.

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

CSX Dividend Announcement

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

CSX 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.