Headlands Technologies LLC Makes New $7.93 Million Investment in CSX Corporation $CSX

Headlands Technologies LLC purchased a new stake in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 166,767 shares of the transportation company’s stock, valued at approximately $7,926,000. CSX accounts for about 0.8% of Headlands Technologies LLC’s holdings, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSX. Archer Investment Corp bought a new stake in shares of CSX in the 2nd quarter valued at $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the 2nd quarter worth about $27,000. WFA of San Diego LLC bought a new position in shares of CSX in the second quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. bought a new position in CSX during the 2nd quarter valued at $29,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of CSX during the second quarter valued at about $30,000. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings raised CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Raymond James Financial reissued an “outperform” rating and issued a $56.00 price objective on shares of CSX in a research report on Monday, July 13th. Citigroup upped their price objective on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Stephens began coverage on CSX in a research report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 target price for the company. Finally, Robert W. Baird lifted their target price on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling

In related news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value 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. The trade was a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 189,708 shares of company stock valued at $9,132,304 in the last ninety days. 0.30% of the stock is owned by company insiders.

CSX Price Performance

Shares of NASDAQ:CSX opened at $51.28 on Monday. The firm has a market capitalization of $94.99 billion, a PE ratio of 29.64, a P/E/G ratio of 2.34 and a beta of 1.21. 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 $49.91 and a two-hundred day moving average price of $45.60. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60.

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

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.14 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend 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.