CSX Corporation $CSX Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its position in shares of CSX Corporation (NASDAQ:CSX) by 10.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,419,480 shares of the transportation company’s stock after buying an additional 132,416 shares during the quarter. NEOS Investment Management LLC’s holdings in CSX were worth $67,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in CSX during the second quarter worth approximately $7,655,277,000. XXEC Inc. acquired a new position in CSX in the 2nd quarter valued at $765,595,000. Bank of America Corp DE purchased a new position in shares of CSX during the 2nd quarter worth $1,598,962,000. Bank of New York Mellon Corp purchased a new position in shares of CSX during the 2nd quarter worth $950,325,000. Finally, Legal & General Group Plc acquired a new stake in shares of CSX during the second quarter worth $747,001,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insider Transactions at CSX

In related news, SVP Michael Burns sold 13,000 shares of the 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 completion of the transaction, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Angela Williams sold 30,000 shares of the firm’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 transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSX. Truist Financial set a $46.00 target price on CSX in a research report on Friday, July 10th. Stifel Nicolaus set a $54.00 price target on CSX in a research note on Thursday, July 23rd. TD Cowen raised their price objective on CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Stephens started coverage on CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price objective on the stock. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Stock Performance

CSX opened at $48.99 on Friday. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock has a market cap of $90.75 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. The business’s 50 day moving average is $50.13 and its 200-day moving average is $45.83.

CSX (NASDAQ:CSX) last announced its quarterly earnings results 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. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 yield of 1.1%. CSX’s dividend payout ratio is presently 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.