Livforsakringsbolaget Skandia Omsesidigt Buys Shares of 15,805 CSX Corporation $CSX

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in 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 15,805 shares of the transportation company’s stock, valued at approximately $751,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in CSX in the second quarter worth $7,655,277,000. XXEC Inc. bought a new position in CSX in the second quarter valued at $765,595,000. Bank of America Corp DE bought a new position in CSX in the second quarter valued at $1,598,962,000. Bank of New York Mellon Corp purchased a new stake in CSX during the second quarter valued at about $950,325,000. Finally, Legal & General Group Plc purchased a new stake in CSX during the second quarter valued at about $747,001,000. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of a number of research reports. TD Cowen upped 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. Morgan Stanley set a $32.00 price objective on CSX and gave the company an “underweight” rating in a report on Monday, July 6th. Stifel Nicolaus set a $54.00 target price on CSX in a research note on Thursday, July 23rd. Raymond James Financial reiterated an “outperform” rating and set a $56.00 price target on shares of CSX in a research report on Monday, July 13th. Finally, Evercore set a $51.00 price target on shares of CSX in a research note on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Performance

Shares of CSX stock opened at $51.28 on Friday. The company has a market capitalization of $94.99 billion, a P/E ratio of 29.64, a PEG ratio of 2.34 and a beta of 1.21. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The stock has a 50 day moving average price of $49.91 and a two-hundred day moving average price of $45.57.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS 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 for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the 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 completion of the transaction, the director owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 189,708 shares of company stock worth $9,132,304 in the last ninety days. 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.