Canada Post Corp Registered Pension Plan Increases Stock Position in CSX Corporation $CSX

Canada Post Corp Registered Pension Plan raised its holdings in CSX Corporation (NASDAQ:CSX) by 34.2% during the 4th quarter, Holdings Channel reports. The firm owned 96,484 shares of the transportation company’s stock after purchasing an additional 24,566 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in CSX were worth $3,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strengthening Families & Communities LLC acquired a new stake in CSX in the third quarter valued at approximately $2,199,000. Rathbones Group PLC lifted its stake in CSX by 20.6% in the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock valued at $7,367,000 after acquiring an additional 35,403 shares during the last quarter. Allstate Corp acquired a new stake in CSX in the third quarter valued at approximately $2,363,000. Cbre Investment Management Listed Real Assets LLC lifted its stake in CSX by 81.9% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock valued at $33,555,000 after acquiring an additional 425,395 shares during the last quarter. Finally, Reaves W H & Co. Inc. acquired a new stake in CSX in the third quarter valued at approximately $5,326,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX opened at $45.66 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $42.20 and its two-hundred day moving average is $39.00. The company has a market cap of $84.84 billion, a P/E ratio of 28.01, a P/E/G ratio of 2.38 and a beta of 1.24. CSX Corporation has a 12 month low of $30.17 and a 12 month high of $46.55.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. On average, equities analysts expect that CSX Corporation will post 1.89 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. CSX’s payout ratio is currently 34.36%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CSX shares. TD Cowen boosted their target price on CSX from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on CSX from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Wolfe Research restated an “outperform” rating and issued a $50.00 target price on shares of CSX in a report on Thursday, April 23rd. Royal Bank Of Canada boosted their target price on CSX from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Citigroup restated a “neutral” rating and issued a $46.00 target price (up from $44.00) on shares of CSX in a report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $45.42.

Insider Activity at CSX

In other CSX news, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at $6,882,876.28. The trade was a 35.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen F. Angel purchased 25,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the transaction, the chief executive officer owned 146,540 shares in the company, valued at approximately $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

CSX Profile

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.