Bank OZK Invests $5.03 Million in CSX Corporation $CSX

Bank OZK bought a new position in 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 bought 105,771 shares of the transportation company's stock, valued at approximately $5,027,000. CSX comprises 1.5% of Bank OZK's portfolio, making the stock its 18th largest holding.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of CSX during the second quarter valued at about $7,655,277,000. XXEC Inc. bought a new stake in CSX in the 2nd quarter worth about $765,595,000. Bank of America Corp DE purchased a new stake in CSX in the 2nd quarter valued at about $1,598,962,000. Bank of New York Mellon Corp purchased a new stake in CSX in the 2nd quarter valued at about $950,325,000. Finally, Legal & General Group Plc bought a new position in shares of CSX during the 2nd quarter worth approximately $747,001,000. Institutional investors own 73.57% of the company's stock.

Insider Transactions at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the 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 trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was 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 owned 208,622 shares of the company's stock, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 189,708 shares of company stock worth $9,132,304. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CSX shares. Argus set a $56.00 target price on CSX in a research note on Friday, July 31st. Citigroup lifted their price target on CSX from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Stifel Nicolaus set a $54.00 price objective on CSX in a research report on Thursday, July 23rd. Raymond James Financial restated an "outperform" rating and issued a $56.00 price objective on shares of CSX in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded CSX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $51.31.

CSX Price Performance

CSX stock opened at $51.54 on Friday. The business's 50 day simple moving average is $49.80 and its 200 day simple moving average is $45.53. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The company has a market cap of $95.48 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.36 and a beta of 1.21. 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 (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.During the same period in the previous year, the company posted $0.44 earnings per share. The business's revenue was up 10.1% on a year-over-year basis. Sell-side analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed 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. 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 (DPR) is 32.37%.

About CSX

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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