Van Hulzen Asset Management LLC bought a new stake in CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 87,709 shares of the transportation company's stock, valued at approximately $4,169,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of CSX in the second quarter worth $7,655,277,000. XXEC Inc. acquired a new position in CSX during the second quarter valued at $765,595,000. Bank of New York Mellon Corp acquired a new position in CSX during the second quarter valued at $950,325,000. Deutsche Bank AG purchased a new stake in CSX in the second quarter valued at $685,418,000. Finally, Cohen & Steers Inc. boosted its holdings in CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company's stock valued at $300,226,000 after purchasing an additional 98,977 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.
Insider Activity at CSX
In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the company's stock in a transaction on 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 approximately $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on Friday, July 24th. The shares were 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 approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock worth $9,132,304 in the last quarter. 0.30% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Barclays reaffirmed an "overweight" rating and set a $60.00 price target (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $54.00 target price (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Citizens Jmp began coverage on CSX in a report on Wednesday, July 15th. They set a "market perform" rating on the stock. Citigroup lifted their price target on CSX from $53.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, Robert W. Baird boosted their price target on CSX from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Eighteen investment 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.31.
Check Out Our Latest Stock Analysis on CSX
CSX Stock Performance
Shares of CSX stock opened at $51.44 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The business's 50 day moving average is $49.46 and its two-hundred day moving average is $45.28. The company has a market capitalization of $95.29 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.36 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 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business's revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. Analysts expect that CSX Corporation will post 2 EPS for the current fiscal year.
CSX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX's payout ratio is presently 32.37%.
CSX Profile
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Free Report)
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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