Commerzbank Aktiengesellschaft FI Invests $620,000 in CSX Corporation $CSX

Commerzbank Aktiengesellschaft FI bought a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 13,034 shares of the transportation company’s stock, valued at approximately $620,000.

A number of other hedge funds have also recently modified their holdings of the stock. Canada Post Corp Registered Pension Plan raised its stake in CSX by 34.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after acquiring an additional 24,566 shares in the last quarter. M3 Wealth Management LLC acquired a new position in CSX in the second quarter valued at $3,373,000. Baxter Bros Inc. purchased a new position in shares of CSX during the second quarter worth about $4,672,000. KTF Investments LLC purchased a new position in shares of CSX during the fourth quarter worth about $1,325,000. Finally, BNB Wealth Management LLC acquired a new stake in shares of CSX during the fourth quarter worth about $1,125,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Down 0.7%

NASDAQ CSX opened at $50.24 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The firm has a market cap of $93.07 billion, a PE ratio of 29.04, a P/E/G ratio of 2.29 and a beta of 1.21. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The firm’s fifty day moving average is $49.14 and its two-hundred day moving average is $44.92.

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

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s payout ratio is 32.37%.

Insider Buying and Selling

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,708 shares of company stock valued at $9,132,304 in the last quarter. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on CSX shares. Citigroup boosted their target price on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Argus set a $56.00 price target on CSX in a research note on Friday, July 31st. Wells Fargo & Company lifted their price target on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. New Street Research set a $49.00 price objective on CSX in a research note on Thursday, April 23rd. Finally, Stifel Nicolaus set a $54.00 price objective on CSX in a research note on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company 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.