CSX Corporation $CSX Shares Bought by Canada Post Corp Registered Pension Plan

Key Points

• Canada Post Corp Registered Pension Plan increased its CSX stake by 34.2% in the fourth quarter, buying 24,566 additional shares and bringing its total to 96,484 shares worth about $3.5 million.
• Wall Street sentiment on CSX remains positive, with several analysts raising price targets and the stock holding a Moderate Buy consensus rating and average target price of $45.42.
• CSX reported quarterly EPS of $0.43, beating estimates, and also announced a quarterly dividend of $0.14 per share, payable June 15.

Canada Post Corp Registered Pension Plan boosted its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 34.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,484 shares of the transportation company's stock after acquiring an additional 24,566 shares during the quarter. Canada Post Corp Registered Pension Plan's holdings in CSX were worth $3,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CSX. FNY Investment Advisers LLC lifted its position in CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company's stock worth $25,000 after acquiring an additional 586 shares during the period. WFA of San Diego LLC acquired a new stake in CSX during the 2nd quarter worth approximately $28,000. Aventura Private Wealth LLC acquired a new stake in CSX during the 4th quarter worth approximately $63,000. Sunbelt Securities Inc. acquired a new stake in CSX during the 3rd quarter worth approximately $67,000. Finally, Torren Management LLC acquired a new stake in CSX during the 4th quarter worth approximately $81,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Benchmark boosted their price target on shares of CSX from $46.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, April 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. TD Cowen lifted their price objective on CSX from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Evercore boosted their target price on CSX from $44.00 to $46.00 in a research report on Monday, May 11th. Finally, Wells Fargo & Company boosted their target price on CSX from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.42.

Insider Activity at CSX

In other news, CEO Stephen F. Angel acquired 25,000 shares of CSX stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the acquisition, the chief executive officer owned 146,540 shares in the company, valued at $5,901,165.80. This trade represents a 20.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer directly owned 165,613 shares of the company's stock, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by company insiders.

CSX Price Performance

CSX opened at $45.66 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. The business has a 50 day simple moving average of $42.20 and a 200-day simple moving average of $39.00. The stock has a market capitalization of $84.84 billion, a P/E ratio of 28.01, a P/E/G ratio of 2.38 and a beta of 1.24. CSX Corporation has a 12 month low of $30.17 and a 12 month high of $46.55.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. On average, equities analysts anticipate that CSX Corporation will post 1.89 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. CSX's dividend payout ratio (DPR) is currently 34.36%.

CSX Company 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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