Public Employees Retirement System of Ohio Acquires New Position in CSX Corporation $CSX

Public Employees Retirement System of Ohio acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 793,979 shares of the transportation company’s stock, valued at approximately $37,738,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of CSX during the second quarter valued at about $7,655,277,000. XXEC Inc. bought a new position in CSX during the second quarter valued at approximately $765,595,000. Bank of America Corp DE bought a new stake in CSX in the 2nd quarter worth approximately $1,598,962,000. Bank of New York Mellon Corp bought a new position in CSX during the second quarter valued at $950,325,000. Finally, Legal & General Group Plc purchased a new position in CSX in the second quarter worth about $747,001,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insider Buying and Selling

In related news, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 189,708 shares of company stock valued at $9,132,304. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CSX shares. JPMorgan Chase & Co. raised their price target on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Citigroup raised their target price on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Evercore set a $51.00 price target on shares of CSX in a report on Thursday, July 23rd. BMO Capital Markets reissued a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Down 0.5%

NASDAQ:CSX opened at $51.28 on Friday. The company’s 50-day simple moving average is $49.91 and its 200-day simple moving average is $45.57. 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 Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The stock has a market capitalization of $94.99 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.35 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its quarterly 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. 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 company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

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 dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is currently 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.