Baxter Bros Inc. Buys Shares of 98,301 CSX Corporation $CSX

Key Points

• Baxter Bros Inc. acquired 98,301 CSX shares during the second quarter, valued at approximately $4.67 million. Institutional investors collectively own 73.57% of CSX.
• 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 declared a quarterly dividend of $0.14 per share, equivalent to a $0.56 annualized payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with a $51.31 average price target.

Baxter Bros Inc. bought a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 98,301 shares of the transportation company's stock, valued at approximately $4,672,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Canada Post Corp Registered Pension Plan boosted its holdings in shares of CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company's stock worth $3,498,000 after purchasing an additional 24,566 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of CSX by 159.5% during the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company's stock valued at $2,661,000 after buying an additional 45,116 shares during the last quarter. KTF Investments LLC bought a new position in shares of CSX during the fourth quarter valued at about $1,325,000. BNB Wealth Management LLC purchased a new position in shares of CSX in the fourth quarter worth about $1,125,000. Finally, Allstate Corp increased its holdings in shares of CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company's stock worth $4,962,000 after buying an additional 70,326 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Performance

NASDAQ CSX opened at $50.16 on Monday. The stock has a market cap of $92.92 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The stock has a 50 day simple moving average of $49.02 and a two-hundred day simple moving average of $44.74. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

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 the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion for 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 firm earned $0.44 earnings per share. On average, analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

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 dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis 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%.

Analyst Ratings Changes

Several brokerages recently weighed in on CSX. Citizens Jmp began coverage on CSX in a report on Wednesday, July 15th. They set a "market perform" rating for the company. Stifel Nicolaus set a $54.00 price target on CSX in a research note on Thursday, July 23rd. Citigroup boosted their price objective on CSX from $53.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Evercore set a $51.00 price target on shares of CSX in a report on Thursday, July 23rd. Finally, Argus set a $56.00 price target on shares of CSX in a report on Friday, July 31st. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.31.

Insider Activity at CSX

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the company's stock in a transaction on Friday, July 24th. The shares were 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 in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company's stock, valued at $16,430,015.30. This trade represents a 2.75% 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 valued at $9,132,304 in the last 90 days. 0.30% of the stock is owned by company insiders.

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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