CSX Corporation $CSX Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its holdings in CSX Corporation (NASDAQ:CSX) by 5.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 391,180 shares of the transportation company’s stock after acquiring an additional 20,930 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in CSX were worth $18,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wedbush Securities Inc. increased its stake in CSX by 2.5% in the second quarter. Wedbush Securities Inc. now owns 37,866 shares of the transportation company’s stock valued at $1,800,000 after purchasing an additional 912 shares during the last quarter. Greenleaf Trust raised its holdings in CSX by 0.4% during the second quarter. Greenleaf Trust now owns 69,023 shares of the transportation company’s stock worth $3,281,000 after purchasing an additional 263 shares in the last quarter. Trustmark Bank Trust Department lifted its position in shares of CSX by 23.0% during the 2nd quarter. Trustmark Bank Trust Department now owns 14,927 shares of the transportation company’s stock worth $709,000 after buying an additional 2,796 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CSX by 3.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,545,422 shares of the transportation company’s stock worth $643,814,000 after buying an additional 479,630 shares during the last quarter. Finally, Mufg Securities Americas Inc. boosted its holdings in shares of CSX by 8.8% in the 2nd quarter. Mufg Securities Americas Inc. now owns 55,965 shares of the transportation company’s stock valued at $2,660,000 after buying an additional 4,510 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Activity at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was 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. 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. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSX. BMO Capital Markets reaffirmed a “market perform” rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Evercore set a $51.00 price objective on shares of CSX in a research note on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price target on CSX in a research report on Thursday, July 23rd. Raymond James Financial restated an “outperform” rating and issued a $56.00 price objective on shares of CSX in a research note on Monday, July 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $54.00 target price (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued 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 3.6%

Shares of NASDAQ:CSX opened at $48.70 on Wednesday. The company has a market cap of $90.22 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.38 and a beta of 1.21. The firm’s 50-day simple moving average is $50.05 and its 200-day simple moving average is $45.72. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (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 firm 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 posted $0.44 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

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