31,421 CSX Corporation $CSX Shares Purchased by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors increased its CSX stake by 3.5%, purchasing 31,421 shares to bring its holdings to 921,273 shares valued at approximately $42.85 million. Institutional investors collectively own 73.57% of CSX.
• CSX insiders sold shares in July, including 30,000 shares sold by Chief Accounting Officer Angela C. Williams and 13,000 shares sold by SVP Michael S. Burns. Company insiders own only 0.30% of the stock.
• Analysts maintain a generally positive outlook, with 17 Buy, seven Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $51.17. CSX also announced a quarterly dividend of $0.14 per share, equivalent to a 1.2% annualized yield.

Nisa Investment Advisors LLC raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,273 shares of the transportation company's stock after buying an additional 31,421 shares during the period. Nisa Investment Advisors LLC's holdings in CSX were worth $42,848,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Archer Investment Corp bought a new stake in shares of CSX during the 2nd quarter worth about $26,000. N.E.W. Advisory Services LLC acquired a new position in CSX during the second quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new position in CSX during the second quarter valued at approximately $29,000. Manning & Napier Advisors LLC bought a new position in shares of CSX in the second quarter valued at approximately $30,000. Finally, Arlington Trust Co LLC lifted its stake in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock worth $32,000 after buying an additional 250 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Insider Transactions at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael S. Burns sold 13,000 shares of the company's stock in a transaction that occurred 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 trade represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of CSX from $58.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, October 5th. Benchmark reaffirmed a "buy" rating and issued a $54.00 price target (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Evercore set a $51.00 price objective on CSX in a research note on Thursday, July 23rd. Barclays reiterated an "overweight" rating and issued a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Stifel Nicolaus set a $54.00 price objective on CSX in a research report on Thursday, July 23rd. Seventeen 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 company. According to data from MarketBeat, CSX has an average rating of "Moderate Buy" and an average target price of $51.17.

Key Headlines Impacting CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: New intermodal partnership: CSX and BNSF are teaming up to provide faster coast-to-coast domestic intermodal service. The arrangement could improve network connectivity, service reliability and CSX’s competitiveness in freight transportation. BNSF and CSX team up for faster coast-to-coast domestic intermodal service
• Positive Sentiment: Heavy call-option activity: Investors purchased 31,140 CSX call options Monday, 121% above the average daily volume. The activity signals increased speculative bullish interest, although options positioning does not guarantee a sustained stock advance.
• Positive Sentiment: Drone inspections: CSX is testing drone technology to improve rail-car inspections at its Curtis Bay terminal. Automation could enhance safety, inspection efficiency and operating productivity over time. CSX Uses Drones to Enhance Railcar Inspections at Curtis Bay Terminal
• Neutral Sentiment: Earnings approaching: CSX has scheduled its third-quarter results for October 21. The report is the main near-term catalyst, with investors likely focused on freight volumes, pricing, margins and management’s outlook. CSX schedules October 21 results
• Negative Sentiment: Raymond James lowered its CSX price target to $53 from $56. The reduction indicates a less optimistic view of the railroad’s near-term valuation, even though the revised target remains above the current share price. Raymond James cuts target for CSX stock

CSX Price Performance

Shares of CSX stock opened at $48.08 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX Corporation has a fifty-two week low of $33.63 and a fifty-two week high of $53.60. The firm has a fifty day moving average price of $48.69 and a two-hundred day moving average price of $47.46. The company has a market cap of $89.07 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. Analysts expect that CSX Corporation will post 1.99 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. CSX's dividend payout ratio (DPR) is 32.37%.

CSX Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.

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