Nykredit A S Makes New $14.36 Million Investment in CSX Corporation $CSX

Key Points

• Nykredit A/S initiated a $14.36 million position in CSX during the second quarter by purchasing 297,747 shares. Institutional investors collectively own 73.57% of the company.
• CSX reported quarterly earnings of $0.54 per share, exceeding estimates by $0.02, while revenue rose 10.1% year over year to $3.94 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $51.28, while CSX pays a quarterly dividend of $0.14 per share, yielding about 1.2%.

Nykredit A S purchased a new position in CSX Corporation (NASDAQ:CSX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 297,747 shares of the transportation company's stock, valued at approximately $14,357,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CSX. BlackRock Inc. acquired a new position in shares of CSX during the second quarter valued at approximately $7,655,277,000. XXEC Inc. acquired a new stake in CSX in the second quarter worth approximately $765,595,000. Bank of America Corp DE bought a new position in CSX during the 2nd quarter valued at $1,598,962,000. Bank of New York Mellon Corp bought a new position in CSX during the 2nd quarter valued at $950,325,000. Finally, Legal & General Group Plc acquired a new position in shares of CSX during the 2nd quarter valued at $747,001,000. 73.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Angela C. Williams sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company's stock.

CSX Trading Down 1.7%

Shares of CSX opened at $47.10 on Friday. The business's 50-day moving average price is $50.14 and its 200 day moving average price is $46.32. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $87.25 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.21 and a beta of 1.21. CSX Corporation has a 1-year low of $32.84 and a 1-year high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the company posted $0.44 earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.14 per share. The ex-dividend date was Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. CSX's dividend payout ratio (DPR) is presently 32.37%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of research reports. Weiss Ratings raised CSX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Citizens Jmp began coverage on shares of CSX in a research report on Wednesday, July 15th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. upped their price target on shares of CSX from $56.00 to $58.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Citigroup raised their price objective on shares of CSX from $53.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company boosted their target price on shares of CSX from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.28.

CSX Profile

CSX Corporation NASDAQ: CSX is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.

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