Jupiter Topco LLC Takes $11.72 Million Position in CSX Corporation $CSX

Jupiter Topco LLC acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 246,628 shares of the transportation company’s stock, valued at approximately $11,719,000.

Several other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC raised its holdings in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Syon Capital LLC lifted its holdings in shares of CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after purchasing an additional 287 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of CSX by 7.3% in the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after buying an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC boosted its position in shares of CSX by 2.7% in the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after buying an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its position in shares of CSX by 0.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after buying an additional 347 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of the 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 transaction, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. This represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Morgan Stanley set a $32.00 price target on CSX and gave the company an “underweight” rating in a research report on Monday, July 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 target price on shares of CSX in a research note on Monday, July 13th. Citigroup upped 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. Stephens began coverage on shares of CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. Finally, Bank of America raised their price target on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.31.

CSX Stock Down 0.5%

CSX opened at $51.28 on Friday. The company has a market capitalization of $94.99 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The business has a 50-day moving average of $49.91 and a 200-day moving average of $45.57.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating 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 business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 of this dividend is Monday, August 31st. CSX’s payout ratio is currently 32.37%.

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.