Citizens Financial Group Inc. RI Makes New $1.72 Million Investment in CSX Corporation $CSX

Key Points

• Citizens Financial Group acquired 36,160 CSX shares worth approximately $1.72 million during the second quarter. Institutional investors and hedge funds collectively own 73.57% of CSX.
• CSX reported quarterly EPS of $0.54, exceeding estimates of $0.52, while revenue rose 10.1% year over year to $3.94 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $51.31.
• The company declared a quarterly dividend of $0.14, equivalent to $0.56 annually and a 1.1% yield. Meanwhile, insiders sold 189,708 shares worth about $9.13 million over the past three months.

Citizens Financial Group Inc. RI bought a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,160 shares of the transportation company's stock, valued at approximately $1,719,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new position in shares of CSX in the second quarter valued at about $27,000. WFA of San Diego LLC bought a new stake in CSX during the 2nd quarter worth about $28,000. Arlington Trust Co LLC increased its position in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock valued at $32,000 after acquiring an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC increased its position 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 in the last quarter. Finally, Allied Private Wealth LLC bought a new position in shares of CSX in the second quarter worth about $37,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Michael S. Burns sold 13,000 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the transaction, the senior vice president owned 59,643 shares of the company's stock, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction on 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 sale, the director owned 353,714 shares of the company's stock, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CSX has been the topic of several research analyst reports. Stifel Nicolaus set a $54.00 price target on shares of CSX in a research note on Thursday, July 23rd. Wolfe Research restated an "outperform" rating and issued a $50.00 price objective on shares of CSX in a research report on Thursday, April 23rd. Wall Street Zen lowered CSX from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Citigroup lifted their target price on CSX from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Bank of America boosted their price objective on CSX from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average target price of $51.31.

CSX Price Performance

Shares of CSX opened at $50.58 on Tuesday. The stock has a market cap of $93.70 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. The stock's 50-day moving average price is $49.08 and its two-hundred day moving average price is $44.83. 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 announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share 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 business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company posted $0.44 EPS. CSX's revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.14 dividend. The ex-dividend date 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%.

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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