Graves Light Private Wealth Management Inc. Purchases 5,181 Shares of CSX Co. (NASDAQ:CSX)

Graves Light Private Wealth Management Inc. raised its position in CSX Co. (NASDAQ:CSX) by 173.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,167 shares of the transportation company’s stock after purchasing an additional 5,181 shares during the period. Graves Light Private Wealth Management Inc.’s holdings in CSX were worth $632,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CWM LLC raised its position in CSX by 10.7% in the 1st quarter. CWM LLC now owns 1,347 shares of the transportation company’s stock worth $101,000 after purchasing an additional 130 shares during the period. Community Bank & Trust Waco Texas raised its position in CSX by 1.1% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock worth $953,000 after purchasing an additional 132 shares during the period. RFG Advisory LLC raised its position in CSX by 3.6% in the 1st quarter. RFG Advisory LLC now owns 4,276 shares of the transportation company’s stock worth $319,000 after purchasing an additional 150 shares during the period. Adirondack Trust Co. raised its position in CSX by 2.2% in the 1st quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock worth $554,000 after purchasing an additional 150 shares during the period. Finally, Contravisory Investment Management Inc. raised its position in CSX by 20.9% in the 2nd quarter. Contravisory Investment Management Inc. now owns 868 shares of the transportation company’s stock worth $67,000 after purchasing an additional 150 shares during the period. 76.76% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total transaction of $556,500.00. Following the sale, the executive vice president now owns 79,697 shares of the company’s stock, valued at approximately $6,335,911.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.83% of the company’s stock.

Shares of CSX opened at $67.12 on Friday. The company’s 50-day moving average is $75.10. The company has a market cap of $54.10 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.44. CSX Co. has a 1-year low of $58.47 and a 1-year high of $80.73.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. As a group, sell-side analysts expect that CSX Co. will post 4.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s payout ratio is 25.00%.

CSX has been the topic of a number of analyst reports. Zacks Investment Research cut shares of CSX from a “hold” rating to a “sell” rating and set a $83.00 price objective on the stock. in a research report on Monday, July 8th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their price objective for the company from $85.00 to $81.00 in a research report on Wednesday, July 10th. BidaskClub cut shares of CSX from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. BMO Capital Markets boosted their price objective on shares of CSX from $76.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Royal Bank of Canada decreased their price objective on shares of CSX to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $78.13.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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