21,378 Shares of CSX Corporation $CSX Purchased by Capstone Capital Management Ltd

Capstone Capital Management Ltd bought a new position in shares of CSX Corporation (NASDAQ:CSX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,378 shares of the transportation company’s stock, valued at approximately $994,000.

Other institutional investors have also recently made changes to their positions in the company. Newman Dignan & Sheerar Inc. bought a new position in shares of CSX during the third quarter valued at $224,000. Nisa Investment Advisors LLC raised its position in shares of CSX by 3.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 921,273 shares of the transportation company’s stock worth $42,848,000 after purchasing an additional 31,421 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in CSX by 394.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,480,259 shares of the transportation company’s stock worth $68,847,000 after purchasing an additional 1,180,811 shares in the last quarter. Miller Financial Services LLC boosted its stake in CSX by 9.4% in the 3rd quarter. Miller Financial Services LLC now owns 11,663 shares of the transportation company’s stock worth $542,000 after purchasing an additional 1,003 shares in the last quarter. Finally, 55 North Private Wealth LLC boosted its stake in CSX by 6.5% in the 3rd quarter. 55 North Private Wealth LLC now owns 7,910 shares of the transportation company’s stock worth $368,000 after purchasing an additional 483 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Trending Headlines about CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: New intermodal partnership: CSX and BNSF are teaming up to provide faster coast-to-coast domestic intermodal service. The arrangement could improve network connectivity, service reliability and CSX’s competitiveness in freight transportation. BNSF and CSX team up for faster coast-to-coast domestic intermodal service
• Positive Sentiment: Heavy call-option activity: Investors purchased 31,140 CSX call options Monday, 121% above the average daily volume. The activity signals increased speculative bullish interest, although options positioning does not guarantee a sustained stock advance.
• Positive Sentiment: Drone inspections: CSX is testing drone technology to improve rail-car inspections at its Curtis Bay terminal. Automation could enhance safety, inspection efficiency and operating productivity over time. CSX Uses Drones to Enhance Railcar Inspections at Curtis Bay Terminal
• Neutral Sentiment: Earnings approaching: CSX has scheduled its third-quarter results for October 21. The report is the main near-term catalyst, with investors likely focused on freight volumes, pricing, margins and management’s outlook. CSX schedules October 21 results
• Negative Sentiment: Raymond James lowered its CSX price target to $53 from $56. The reduction indicates a less optimistic view of the railroad’s near-term valuation, even though the revised target remains above the current share price. Raymond James cuts target for CSX stock

Insider Activity at CSX

In other news, 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 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. The trade was a 74.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by company insiders.

CSX Price Performance

Shares of NASDAQ:CSX opened at $48.08 on Wednesday. The firm’s 50 day moving average price is $48.69 and its 200-day moving average price is $47.46. CSX Corporation has a twelve month low of $33.63 and a twelve month high of $53.60. 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 stock has a market capitalization of $89.07 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Equities research analysts expect that CSX Corporation will post 1.99 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a $0.14 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.56 annualized dividend and a yield of 1.2%. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Susquehanna decreased their target price on CSX from $59.00 to $55.00 and set a “positive” rating for the company in a research report on Friday, October 2nd. Argus set a $56.00 target price on shares of CSX in a research note on Friday, July 31st. Wall Street Zen downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Finally, TD Cowen lifted their price target on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Seventeen research 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.17.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.