Nykredit A S Invests $15.12 Million in CSX Corporation $CSX

Nykredit A S acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 318,041 shares of the transportation company’s stock, valued at approximately $15,116,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock worth $2,428,000 after purchasing an additional 2,281 shares during the period. WFA of San Diego LLC bought a new position in shares of CSX in the second quarter worth about $28,000. Captrust Financial Advisors lifted its position in shares of CSX by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in shares of CSX by 22.5% during the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after purchasing an additional 27,280 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CSX

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the company’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 sale, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CSX shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $59.00 target price on shares of CSX in a report on Friday, July 24th. Argus set a $56.00 price target on CSX in a report on Friday, July 31st. BMO Capital Markets reissued a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Barclays restated an “overweight” rating and issued a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Morgan Stanley set a $32.00 target price on shares of CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Up 0.9%

CSX stock opened at $49.41 on Friday. CSX Corporation has a twelve month low of $31.80 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 company has a market cap of $91.53 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. The business’s 50-day simple moving average is $50.16 and its 200 day simple moving average is $45.86.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS 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 analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

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