Nykredit A S Takes $15.12 Million Position in CSX Corporation $CSX

Key Points

• Nykredit A/S acquired 318,041 CSX shares worth approximately $15.1 million during the second quarter, while institutional investors and hedge funds collectively own 73.57% of the company.
• CSX reported quarterly earnings of $0.54 per share and revenue of $3.94 billion, surpassing analyst estimates; revenue increased 10.1% year over year.
• The company declared a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $51.31.

Nykredit A S bought a new position in CSX Corporation (NASDAQ:CSX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 318,041 shares of the transportation company's stock, valued at approximately $15,116,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSX. Banco de Sabadell S.A increased its holdings in shares of CSX by 1.1% in the second quarter. Banco de Sabadell S.A now owns 53,835 shares of the transportation company's stock valued at $2,558,000 after buying an additional 567 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of CSX during the 2nd quarter valued at $447,000. Nwam LLC boosted its stake in shares of CSX by 5.3% during the 2nd quarter. Nwam LLC now owns 18,445 shares of the transportation company's stock worth $877,000 after acquiring an additional 922 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of CSX by 2.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 31,709 shares of the transportation company's stock worth $1,507,000 after acquiring an additional 701 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of CSX in the 2nd quarter valued at $7,926,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX opened at $49.41 on Friday. The stock has a fifty day moving average price of $50.16 and a 200 day moving average price of $45.86. 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 1 year low of $31.80 and a 1 year high of $53.60. The stock has a market cap of $91.53 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.30 and a beta of 1.21.

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

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.14 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX's dividend payout ratio is currently 32.37%.

Insider Buying and Selling

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the business'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 completion of the sale, the senior vice president directly owned 59,643 shares of the company's stock, valued at $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business's 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 sale, the chief accounting officer directly owned 10,437 shares of the company's stock, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSX. BMO Capital Markets reiterated a "market perform" rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $54.00 price target (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Evercore set a $51.00 price target on CSX in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $59.00 price objective on shares of CSX in a research note on Friday, July 24th. Finally, Stifel Nicolaus set a $54.00 price objective on CSX in a research report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.31.

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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