Blue Capital Inc. Makes New Investment in CSX Corporation $CSX

Key Points

• Blue Capital Inc. initiated a CSX position in the second quarter, purchasing 58,609 shares valued at approximately $2.8 million. CSX now represents 1.8% of Blue Capital’s portfolio, while institutional investors collectively own 73.57% of the company.
• CSX reported quarterly adjusted earnings of $0.54 per share, surpassing estimates by $0.02, on revenue of $3.94 billion—up 10.1% year over year. Shares opened at $51.59, near their 52-week high of $53.60.
• The company declared a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 dividend and a 1.1% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $51.31, while insiders have sold $9.1 million in stock over the past 90 days.

Blue Capital Inc. acquired a new position 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 and Exchange Commission (SEC). The institutional investor acquired 58,609 shares of the transportation company's stock, valued at approximately $2,786,000. CSX makes up 1.8% of Blue Capital Inc.'s portfolio, making the stock its 15th largest holding.

Other institutional investors have also modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of CSX in the second quarter valued at $27,000. WFA of San Diego LLC acquired a new position in shares of CSX during the 2nd quarter worth about $28,000. Arlington Trust Co LLC boosted its stake in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock worth $32,000 after purchasing an additional 250 shares during the period. Wilkerson Advisory Group LLC raised its stake in shares of CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock worth $34,000 after purchasing an additional 409 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in CSX in the 2nd quarter valued at about $34,000. Institutional investors own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX stock opened at $51.59 on Friday. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. 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 firm has a market capitalization of $95.57 billion, a P/E ratio of 29.82, a PEG ratio of 2.33 and a beta of 1.21. The company has a 50 day moving average price of $49.38 and a 200 day moving average price of $45.15.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the business earned $0.44 earnings per share. CSX's quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

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

Insider Activity

In other CSX news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction on Wednesday, June 3rd. The shares were 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 in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company's stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial set a $46.00 target price on shares of CSX in a report on Friday, July 10th. Wells Fargo & Company increased their price target on shares of CSX from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Bank of America raised their price target on shares of CSX from $53.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. TD Cowen boosted their target price on CSX from $46.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Finally, Robert W. Baird boosted their price objective on shares of CSX from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 7th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average 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.

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