E Fund Management Co. Ltd. Takes $3.69 Million Position in CSX Corporation $CSX

E Fund Management Co. Ltd. purchased a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 77,676 shares of the transportation company’s stock, valued at approximately $3,692,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Canada Post Corp Registered Pension Plan boosted its stake in shares of CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after purchasing an additional 24,566 shares in the last quarter. M. Kulyk & Associates LLC acquired a new position in CSX during the 2nd quarter worth approximately $8,145,000. First National Bank of Omaha acquired a new position in CSX during the 2nd quarter worth approximately $6,248,000. M3 Wealth Management LLC bought a new position in CSX in the 2nd quarter valued at approximately $3,373,000. Finally, Baxter Bros Inc. bought a new position in CSX in the 2nd quarter valued at approximately $4,672,000. 73.57% of the stock is currently owned by institutional investors.

Insider Transactions at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the business’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 sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of several recent research reports. Citizens Jmp started coverage on CSX in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Vertical Research downgraded CSX from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a research report on Thursday, April 23rd. Stifel Nicolaus set a $54.00 price target on CSX in a research note on Thursday, July 23rd. Bank of America boosted their price target on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley set a $32.00 price objective on CSX and gave the company 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.31.

CSX Price Performance

CSX stock opened at $50.68 on Thursday. The stock’s 50 day moving average is $49.23 and its 200 day moving average is $45.01. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The firm has a market cap of $93.88 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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 net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the company posted $0.44 earnings per share. CSX’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.14 dividend. 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%.

CSX Company 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.