KTF Investments LLC Purchases New Shares in CSX Corporation $CSX

Key Points

• KTF Investments LLC bought a new stake of 36,550 shares of CSX in Q4 valued at about $1.33 million, while institutional investors now own roughly 73.57% of the company.
• Analyst sentiment is mildly positive with a consensus rating of "Moderate Buy" and a $45.26 price target (16 Buys, 9 Holds), and several firms have recently raised their targets (e.g., Argus, TD Cowen, Raymond James).
• CSX beat EPS expectations ($0.43 vs. $0.39) but narrowly missed revenue estimates ($3.48B), raised its quarterly dividend to $0.14, and insiders sold about 188,123 shares worth roughly $7.45 million over the last 90 days.

KTF Investments LLC purchased a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 36,550 shares of the transportation company's stock, valued at approximately $1,325,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in CSX by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 3,450,199 shares of the transportation company's stock valued at $122,516,000 after buying an additional 8,639 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its holdings in CSX by 81.9% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company's stock valued at $33,555,000 after buying an additional 425,395 shares during the period. Captrust Financial Advisors raised its holdings in CSX by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company's stock valued at $13,242,000 after buying an additional 3,162 shares during the period. Cohen Capital Management Inc. raised its holdings in CSX by 0.4% during the 3rd quarter. Cohen Capital Management Inc. now owns 278,373 shares of the transportation company's stock valued at $9,885,000 after buying an additional 1,100 shares during the period. Finally, Miller Howard Investments Inc. NY raised its holdings in CSX by 7.8% during the 4th quarter. Miller Howard Investments Inc. NY now owns 223,507 shares of the transportation company's stock valued at $8,102,000 after buying an additional 16,139 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Argus increased their target price on CSX from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, January 27th. New Street Research set a $49.00 target price on CSX in a research note on Thursday. Citigroup reiterated a "neutral" rating and issued a $46.00 target price (up from $44.00) on shares of CSX in a research note on Thursday. TD Cowen increased their target price on CSX from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Finally, Raymond James Financial increased their target price on CSX from $45.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.26.

CSX Stock Performance

CSX stock opened at $45.49 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. The business's fifty day simple moving average is $41.53 and its two-hundred day simple moving average is $38.24. CSX Corporation has a twelve month low of $27.51 and a twelve month high of $46.55. The firm has a market cap of $84.52 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.39 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last announced 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 firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The business's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. Analysts predict that CSX Corporation will post 1.88 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.14 per share. This is an increase from CSX's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, February 27th. CSX's payout ratio is 34.36%.

Insider Activity

In other news, CAO Diana B. Sorfleet sold 90,000 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the transaction, the chief accounting officer owned 165,613 shares in the company, valued at approximately $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Stephen Fortune sold 31,456 shares of the firm's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total value of $1,215,774.40. Following the transaction, the executive vice president owned 82,034 shares in the company, valued at approximately $3,170,614.10. This represents a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 188,123 shares of company stock worth $7,454,854. Company insiders own 0.30% of the company's stock.

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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