Saudi Central Bank Has $6.19 Million Stock Position in CSX Corporation $CSX

Key Points

• Saudi Central Bank increased its CSX position by 89.4% in the second quarter, adding 61,466 shares to hold 130,200 shares valued at approximately $6.19 million.
• CSX reported quarterly EPS of $0.54, beating estimates by $0.02, while revenue rose 10.1% year over year to $3.94 billion. The company declared a quarterly dividend of $0.14, representing a 1.1% yield.
• Institutional investors own 73.57% of CSX, while insiders recently sold shares. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $51.31.

Saudi Central Bank boosted its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 89.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,200 shares of the transportation company's stock after buying an additional 61,466 shares during the period. Saudi Central Bank's holdings in CSX were worth $6,188,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction 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 sale, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael S. Burns sold 13,000 shares of the firm's stock in a transaction 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 owned 59,643 shares of the company's stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by corporate insiders.

CSX Price Performance

Shares of CSX opened at $49.41 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $50.16 and a two-hundred day moving average price of $45.89. The stock has a market cap of $91.53 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 2.32 and a beta of 1.21. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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 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 business earned $0.44 earnings per share. The business's revenue was up 10.1% on a year-over-year basis. Equities analysts predict that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore set a $51.00 price target on CSX in a research note on Thursday, July 23rd. Argus set a $56.00 price objective on CSX in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on CSX from $56.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Stephens began coverage on CSX in a research report on Wednesday, July 8th. They set an "overweight" rating and a $57.00 price objective on the stock. Finally, Weiss Ratings upgraded CSX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.31.

About CSX

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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