Caisse de depot et placement du Quebec Invests $53.46 Million in CSX Corporation $CSX

Caisse de depot et placement du Quebec bought a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,124,808 shares of the transportation company’s stock, valued at approximately $53,462,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in CSX in the second quarter worth approximately $7,655,277,000. XXEC Inc. purchased a new stake in shares of CSX in the 2nd quarter valued at approximately $765,595,000. Bank of New York Mellon Corp acquired a new stake in shares of CSX in the 2nd quarter valued at $950,325,000. Legal & General Group Plc acquired a new stake in shares of CSX in the 2nd quarter valued at $747,001,000. Finally, Deutsche Bank AG purchased a new stake in shares of CSX during the 2nd quarter worth $685,418,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Transactions at CSX

In other news, SVP Michael S. Burns sold 13,000 shares of CSX 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSX. Raymond James Financial reiterated an “outperform” rating and set a $56.00 target price on shares of CSX in a research note on Monday, July 13th. Benchmark reaffirmed a “buy” rating and set a $54.00 price target (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $59.00 price objective on shares of CSX in a research report on Friday, July 24th. BMO Capital Markets reissued a “market perform” rating and set a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, Morgan Stanley set a $32.00 target price on CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Performance

Shares of CSX stock opened at $51.54 on Friday. The stock’s 50-day moving average is $49.80 and its two-hundred day moving average is $45.53. The firm has a market cap of $95.48 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.36 and a beta of 1.21. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

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

CSX Announces Dividend

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