Northwestern Mutual Wealth Management Co. Raises Stock Holdings in CSX Corporation $CSX

Key Points

• Northwestern Mutual Wealth Management increased its CSX stake by 5.7% in the second quarter, adding 20,930 shares to own 391,180 shares valued at approximately $18.6 million. Institutional investors collectively own 73.57% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $51.31. CSX also exceeded quarterly expectations, reporting $0.54 in EPS and $3.94 billion in revenue, up 10.1% year over year.
• CSX shares opened at $48.70, while two insiders recently sold a combined 43,000 shares. The company declared a quarterly dividend of $0.14 per share, implying a 1.1% annual yield.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 391,180 shares of the transportation company's stock after buying an additional 20,930 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in CSX were worth $18,593,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CSX. Evolve Private Wealth LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $693,000. Canada Post Corp Registered Pension Plan raised its position in CSX by 34.2% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company's stock valued at $3,498,000 after purchasing an additional 24,566 shares during the period. M. Kulyk & Associates LLC acquired a new position in CSX during the second quarter worth $8,145,000. Wealthfront Advisers LLC acquired a new position in CSX during the second quarter worth $7,609,000. Finally, First National Bank of Omaha purchased a new position in shares of CSX during the second quarter worth $6,248,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CSX. TD Cowen lifted their price objective on CSX from $46.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Barclays reissued an "overweight" rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Benchmark restated a "buy" rating and set a $54.00 target price (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Citizens Jmp started coverage on CSX in a research report on Wednesday, July 15th. They issued a "market perform" rating for the company. Finally, Truist Financial set a $46.00 price target on shares of CSX in a research note on Friday, July 10th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average target price of $51.31.

Insider Transactions at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the transaction, the chief accounting officer owned 10,437 shares of the company's stock, valued at $556,187.73. This represents a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company's stock.

CSX Stock Down 3.6%

CSX stock opened at $48.70 on Wednesday. The firm has a market capitalization of $90.22 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.38 and a beta of 1.21. 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 Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The stock's fifty day simple moving average is $50.05 and its 200-day simple moving average is $45.72.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business posted $0.44 earnings per share. CSX's revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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 paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX's dividend payout ratio (DPR) 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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