CSX Corporation $CSX Shares Acquired by National Pension Service

National Pension Service boosted its holdings in CSX Corporation (NASDAQ:CSX) by 0.8% in the second quarter, HoldingsChannel reports. The firm owned 5,567,393 shares of the transportation company’s stock after purchasing an additional 44,973 shares during the period. National Pension Service’s holdings in CSX were worth $264,618,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Washington Trust Advisors Inc. increased its holdings in CSX by 7.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company’s stock worth $149,000 after purchasing an additional 211 shares during the last quarter. Arlington Trust Co LLC boosted its stake in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares during the last quarter. Greenleaf Trust boosted its stake in shares of CSX by 0.4% during the 2nd quarter. Greenleaf Trust now owns 69,023 shares of the transportation company’s stock valued at $3,281,000 after buying an additional 263 shares during the last quarter. Syon Capital LLC grew its position in shares of CSX by 1.0% during the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after buying an additional 287 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of CSX by 1.7% during the second quarter. Parkside Financial Bank & Trust now owns 18,038 shares of the transportation company’s stock worth $874,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Transactions at CSX

In related news, CAO Angela Williams sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

CSX Stock Performance

CSX stock opened at $48.37 on Thursday. The stock’s 50 day simple moving average is $50.22 and its 200 day simple moving average is $46.05. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The firm has a market cap of $89.60 billion, a P/E ratio of 27.96, a P/E/G ratio of 2.30 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last released 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 firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. As a group, equities research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. CSX’s payout ratio is 32.37%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSX. Truist Financial set a $46.00 price target on shares of CSX in a report on Friday, July 10th. Wells Fargo & Company raised their price objective on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. TD Cowen boosted their target price on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 target price (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, Robert W. Baird upped their target price on shares of CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $51.31.

About CSX

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.