Level Four Advisory Services LLC Takes Position in CSX Corporation (NASDAQ:CSX)

Level Four Advisory Services LLC purchased a new stake in CSX Corporation (NASDAQ:CSX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,506 shares of the transportation company’s stock, valued at approximately $212,000.

Several other large investors have also made changes to their positions in CSX. Brahman Capital Corp. acquired a new stake in shares of CSX Corporation during the first quarter valued at about $257,229,000. Thrivent Financial For Lutherans increased its position in CSX Corporation by 252.3% in the first quarter. Thrivent Financial For Lutherans now owns 4,769,577 shares of the transportation company’s stock worth $222,004,000 after buying an additional 3,415,705 shares during the last quarter. OZ Management LP increased its position in CSX Corporation by 266.3% in the first quarter. OZ Management LP now owns 4,094,353 shares of the transportation company’s stock worth $190,592,000 after buying an additional 2,976,497 shares during the last quarter. Jennison Associates LLC increased its position in CSX Corporation by 16,787.9% in the first quarter. Jennison Associates LLC now owns 2,584,353 shares of the transportation company’s stock worth $120,302,000 after buying an additional 2,569,050 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in CSX Corporation by 22.3% in the first quarter. Bank of New York Mellon Corp now owns 10,380,043 shares of the transportation company’s stock worth $483,191,000 after buying an additional 1,896,101 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Shares of CSX Corporation (NASDAQ CSX) traded down 0.20% on Friday, reaching $48.78. The company’s stock had a trading volume of 6,910,756 shares. The firm has a market cap of $44.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.30. CSX Corporation has a 12 month low of $27.89 and a 12 month high of $55.48. The stock has a 50 day moving average of $51.73 and a 200-day moving average of $50.30.

CSX Corporation (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that CSX Corporation will post $2.30 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. CSX Corporation’s dividend payout ratio (DPR) is currently 41.88%.

CSX Corporation announced that its board has authorized a share buyback program on Tuesday, July 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the transportation company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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A number of research analysts recently issued reports on the company. BidaskClub upgraded CSX Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Credit Suisse Group reiterated a “buy” rating and set a $65.00 price objective on shares of CSX Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded CSX Corporation from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of CSX Corporation in a report on Wednesday, July 12th. Finally, Bank of America Corporation reissued a “buy” rating and set a $65.00 price target (up from $56.00) on shares of CSX Corporation in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the stock. CSX Corporation has a consensus rating of “Buy” and an average target price of $53.71.

In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of CSX Corporation stock in a transaction dated Friday, July 21st. The shares were purchased at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the purchase, the director now owns 106 shares of the company’s stock, valued at $5,468.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.79% of the stock is currently owned by company insiders.

CSX Corporation Company Profile

CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.

Institutional Ownership by Quarter for CSX Corporation (NASDAQ:CSX)

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