Brooks Moore & Associates Inc. Acquires Shares of 23,737 CSX Corporation $CSX

Brooks Moore & Associates Inc. acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,737 shares of the transportation company’s stock, valued at approximately $1,128,000.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in CSX during the second quarter worth $7,655,277,000. XXEC Inc. acquired a new stake in shares of CSX in the 2nd quarter worth about $765,595,000. Bank of America Corp DE acquired a new stake in shares of CSX in the 2nd quarter worth about $1,598,962,000. Bank of New York Mellon Corp bought a new position in CSX in the 2nd quarter valued at about $950,325,000. Finally, Legal & General Group Plc bought a new position in CSX in the 2nd quarter valued at about $747,001,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CSX shares. Stephens assumed coverage on CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price objective for the company. Evercore set a $51.00 target price on CSX in a research report on Thursday, July 23rd. Bank of America upped their price target on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Morgan Stanley set a $32.00 price target on CSX and gave the company an “underweight” rating in a research report on Monday, July 6th. Finally, Citizens Jmp initiated coverage on CSX in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Price Performance

CSX stock opened at $51.54 on Friday. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The company’s 50 day moving average price is $49.80 and its two-hundred day moving average price is $45.53. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a market cap of $95.48 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.36 and a beta of 1.21.

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

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 annualized dividend and a yield of 1.1%. CSX’s payout ratio is currently 32.37%.

Insiders Place Their Bets

In other news, SVP Michael S. Burns sold 13,000 shares of the firm’s 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 completion of the sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The sale was disclosed in a document filed 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 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 sale, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,708 shares of company stock worth $9,132,304 in the last ninety days. Company 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.