400,625 Shares in CSX Corporation $CSX Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 400,625 shares of the transportation company's stock, valued at approximately $19,042,000.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. N.E.W. Advisory Services LLC purchased a new stake in shares of CSX during the second quarter valued at $27,000. Manning & Napier Advisors LLC purchased a new position in CSX in the 2nd quarter worth $30,000. Arlington Trust Co LLC raised its stake in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock worth $32,000 after acquiring an additional 250 shares during the last quarter. First Bancorp Inc ME acquired a new stake in CSX during the 2nd quarter worth about $33,000. Finally, Meeder Asset Management Inc. acquired a new stake in CSX during the 2nd quarter worth about $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.4%

Shares of NASDAQ:CSX opened at $51.54 on Friday. The business's 50 day moving average price is $49.80 and its 200-day moving average price is $45.53. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. The firm has a market capitalization of $95.48 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. 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 (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping 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 net margin of 22.21% and a return on equity of 24.98%. The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, equities research analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. 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 payout ratio is currently 32.37%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CSX. Benchmark reissued a "buy" rating and issued a $54.00 price objective (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Morgan Stanley set a $32.00 target price on CSX and gave the stock an "underweight" rating in a report on Monday, July 6th. Barclays reiterated an "overweight" rating and issued a $60.00 target price (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Truist Financial set a $46.00 price target on shares of CSX in a research report on Friday, July 10th. Finally, Stephens began coverage on shares of CSX in a research note on Wednesday, July 8th. They set an "overweight" rating and a $57.00 price objective for the company. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.31.

Insider Activity at CSX

In related news, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 189,708 shares of company stock worth $9,132,304 in the last quarter. Company insiders own 0.30% of the company's stock.

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.

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