Connor Clark & Lunn Investment Management Ltd. acquired a new stake in CSX Corporation (NASDAQ:CSX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,250,355 shares of the transportation company's stock, valued at approximately $154,489,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of CSX as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Canada Post Corp Registered Pension Plan raised its holdings in 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 during the period. M. Kulyk & Associates LLC acquired a new stake in CSX in the second quarter valued at approximately $8,145,000. Wealthfront Advisers LLC acquired a new stake in CSX in the second quarter valued at approximately $7,609,000. First National Bank of Omaha purchased a new stake in shares of CSX in the second quarter valued at approximately $6,248,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of CSX in the second quarter valued at approximately $6,598,000. Institutional investors and hedge funds own 73.57% of the company's stock.
CSX Stock Performance
NASDAQ CSX opened at $51.59 on Monday. The company has a market cap of $95.57 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The stock's 50 day simple moving average is $49.38 and its 200-day simple moving average is $45.20. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.
CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. 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. As a group, equities research analysts anticipate that CSX Corporation will post 2 EPS for the current fiscal year.
CSX Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX's payout ratio is 32.37%.
Insider Buying and Selling at CSX
In other news, 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 $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company's stock, valued at $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. Insiders sold 189,708 shares of company stock worth $9,132,304 over the last three months. 0.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
CSX has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on CSX from $56.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. TD Cowen boosted their price target on shares of CSX from $46.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Raymond James Financial restated an "outperform" rating and set a $56.00 price objective on shares of CSX in a research report on Monday, July 13th. Stifel Nicolaus set a $54.00 price objective on shares of CSX in a report on Thursday, July 23rd. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.31.
Check Out Our Latest Research Report on CSX
CSX Profile
(
Free Report)
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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