Canada Pension Plan Investment Board Purchases New Position in CSX Corporation $CSX

Canada Pension Plan Investment Board acquired a new position in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,444,204 shares of the transportation company’s stock, valued at approximately $116,173,000. Canada Pension Plan Investment Board owned 0.13% of CSX at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kinloch Capital LLC bought a new stake in CSX during the 2nd quarter valued at approximately $520,000. Legal & General Group Plc bought a new position in shares of CSX in the 2nd quarter worth approximately $747,001,000. The Manufacturers Life Insurance Company purchased a new position in shares of CSX in the 2nd quarter valued at approximately $78,884,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of CSX in the 2nd quarter valued at approximately $93,000. Finally, Van Hulzen Asset Management LLC bought a new stake in shares of CSX during the second quarter valued at approximately $4,169,000. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 0.5%

NASDAQ:CSX opened at $51.76 on Thursday. The stock has a market cap of $95.88 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.35 and a beta of 1.21. The company’s 50 day moving average price is $49.68 and its 200-day moving average price is $45.45. CSX Corporation has a 52 week low of $31.80 and a 52 week 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.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSX. BMO Capital Markets reaffirmed a “market perform” rating and issued a $52.00 price target (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Bank of America raised their price objective on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating and boosted their target price for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley set a $32.00 price target on shares of CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. Eighteen equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.31.

Insider Transactions at CSX

In other news, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value 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. This represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 189,708 shares of company stock valued at $9,132,304 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

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.