Bridgewater Advisors Inc. Takes $1.42 Million Position in CSX Corporation $CSX

Key Points

• Bridgewater Advisors initiated a CSX position worth approximately $1.42 million, purchasing 29,169 shares in the second quarter. Institutional investors collectively own 73.57% of the railroad company.
• Analysts maintain a generally positive outlook, with CSX carrying a “Moderate Buy” consensus rating and an average price target of $51.31. Eighteen analysts rate the stock Buy, seven Hold, and one Sell.
• CSX exceeded quarterly expectations, reporting $0.54 EPS and $3.94 billion in revenue, up 10.1% year over year. The company also declared a quarterly dividend of $0.14 per share, while insiders have sold about $9.13 million of stock over the past 90 days.

Bridgewater Advisors Inc. purchased a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 29,169 shares of the transportation company's stock, valued at approximately $1,424,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after acquiring an additional 849 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of CSX by 3.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company's stock valued at $2,428,000 after acquiring an additional 2,281 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of CSX during the 2nd quarter valued at $28,000. Captrust Financial Advisors lifted its stake in shares of CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company's stock valued at $13,242,000 after purchasing an additional 3,162 shares during the period. Finally, Horizon Investments LLC lifted its stake in shares of CSX by 22.5% in the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company's stock valued at $5,268,000 after purchasing an additional 27,280 shares during the period. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSX shares. Evercore set a $51.00 price objective on CSX in a research note on Thursday, July 23rd. BMO Capital Markets reissued a "market perform" rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Citigroup raised their target price on CSX from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Truist Financial set a $46.00 target price on CSX in a research report on Friday, July 10th. Finally, Morgan Stanley set a $32.00 price target on CSX and gave the company an "underweight" rating in a research note on Monday, July 6th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.31.

Insider Buying and Selling

In related news, CAO Angela C. Williams sold 30,000 shares of the firm'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 of the company's stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is owned by corporate insiders.

CSX Stock Up 0.0%

Shares of CSX stock opened at $50.16 on Friday. The business's 50 day simple moving average is $49.02 and its 200 day simple moving average is $44.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The firm has a market cap of $92.92 billion, a PE ratio of 28.99, a P/E/G ratio of 2.29 and a beta of 1.21. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data 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. The company 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%.CSX's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. On average, analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

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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