B. Metzler seel. Sohn & Co. AG Makes New $6.60 Million Investment in CSX Corporation $CSX

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 138,826 CSX shares in the second quarter, valued at approximately $6.6 million. Institutional investors and hedge funds collectively own 73.57% of CSX.
• CSX exceeded quarterly expectations, reporting $0.54 in EPS and $3.94 billion in revenue, with revenue up 10.1% year over year. The company also declared a quarterly dividend of $0.14 per share, equivalent to a 1.1% annual yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and several firms raising price targets to between $54 and $59. CSX shares opened at $51.59, near their one-year high of $53.60.

B. Metzler seel. Sohn & Co. AG acquired a new stake in CSX Corporation (NASDAQ:CSX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 138,826 shares of the transportation company's stock, valued at approximately $6,598,000.

Other hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new position in CSX during the second quarter valued at about $27,000. WFA of San Diego LLC bought a new stake in CSX in the second quarter worth about $28,000. Arlington Trust Co LLC raised its position in 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 acquiring an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC lifted its holdings in CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock valued at $34,000 after acquiring an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in CSX in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Price Performance

CSX stock opened at $51.59 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The company has a market capitalization of $95.57 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.33 and a beta of 1.21. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The business has a 50 day simple moving average of $49.38 and a 200 day simple moving average of $45.15.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.89 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. CSX's quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX's dividend payout ratio (DPR) is presently 32.37%.

Insider Transactions at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the company's 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director directly owned 353,714 shares of the company's stock, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 over the last quarter. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSX. Benchmark reissued a "buy" rating and set a $54.00 target price (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Susquehanna raised CSX from a "neutral" rating to a "positive" rating and upped their price target for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Weiss Ratings upgraded CSX from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of CSX from $56.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.31.

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.

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Corporation (NASDAQ:CSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source