591,892 Shares in CSX Corporation $CSX Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration bought 591,892 CSX shares worth approximately $28.1 million in the second quarter. Institutional investors collectively own 73.57% of the railroad company.
• CSX reported quarterly EPS of $0.54, beating estimates by $0.02, while revenue rose 10.1% year over year to $3.94 billion. The company also announced a quarterly dividend of $0.14 per share, yielding about 1.1% annually.
• Analysts maintain a generally positive view, with 18 Buy, seven Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $51.31. However, CSX insiders sold roughly $9.1 million worth of shares over the past 90 days.

OMERS ADMINISTRATION Corp purchased a new stake in CSX Corporation (NASDAQ:CSX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 591,892 shares of the transportation company's stock, valued at approximately $28,133,000.

A number of other hedge funds have also bought and sold shares of CSX. BlackRock Inc. acquired a new stake in CSX during the second quarter worth approximately $7,655,277,000. XXEC Inc. bought a new stake in CSX in the second quarter valued at $765,595,000. Bank of New York Mellon Corp bought a new stake in CSX in the 2nd quarter valued at about $950,325,000. Deutsche Bank AG bought a new position in CSX in the second quarter worth approximately $685,418,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of CSX in the 2nd quarter worth $224,809,000. Institutional investors own 73.57% of the company's stock.

CSX Price Performance

CSX opened at $51.59 on Monday. 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 $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company's 50-day moving average price is $49.38 and its two-hundred day moving average price is $45.20.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results 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. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business posted $0.44 EPS. CSX's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect 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 issued a dividend of $0.14 per share. 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 dividend payout ratio is 32.37%.

Insider Buying and Selling at CSX

In related news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value 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 approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the firm's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the transaction, the chief accounting officer directly owned 10,437 shares of the company's stock, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,708 shares of company stock worth $9,132,304 over the last ninety days. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CSX shares. Citizens Jmp started coverage on shares of CSX in a report on Wednesday, July 15th. They set a "market perform" rating for the company. Raymond James Financial restated an "outperform" rating and issued a $56.00 target price on shares of CSX in a report on Monday, July 13th. Wall Street Zen downgraded shares of CSX from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Susquehanna raised shares of CSX from a "neutral" rating to a "positive" rating and upped their price objective for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. Finally, Citigroup increased their price objective on shares of CSX from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.31.

CSX Company 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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