Moore Capital Management LP Increases Holdings in CSX Corporation $CSX

Moore Capital Management LP increased its position in shares of CSX Corporation (NASDAQ:CSX) by 349.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,220,553 shares of the transportation company’s stock after purchasing an additional 948,944 shares during the quarter. CSX accounts for approximately 0.9% of Moore Capital Management LP’s investment portfolio, making the stock its 14th largest holding. Moore Capital Management LP owned 0.07% of CSX worth $58,013,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CSX. Archer Investment Corp purchased a new position in CSX during the 2nd quarter worth approximately $26,000. N.E.W. Advisory Services LLC acquired a new stake in CSX during the 2nd quarter valued at approximately $27,000. WFA of San Diego LLC purchased a new stake in shares of CSX in the 2nd quarter valued at $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CSX in the 2nd quarter valued at $29,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of CSX in the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock opened at $51.28 on Monday. The firm has a 50-day simple moving average of $49.91 and a two-hundred day simple moving average of $45.60. The company has a market cap of $94.99 billion, a P/E ratio of 29.64, a price-to-earnings-growth 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.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating 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 firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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 $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $59.00 price target on shares of CSX in a report on Friday, July 24th. Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Truist Financial set a $46.00 price objective on CSX in a report on Friday, July 10th. Finally, Bank of America upped their target price on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.31.

Insiders Place Their Bets

In other news, CAO Angela C. Williams sold 30,000 shares of the business’s 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 sale, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 in the last three months. 0.30% of the stock is currently owned by company insiders.

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.