First Nebraska Trust Co Takes $533,000 Position in CSX Corporation $CSX

First Nebraska Trust Co purchased a new position in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 11,215 shares of the transportation company’s stock, valued at approximately $533,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in CSX during the 2nd quarter valued at $7,655,277,000. XXEC Inc. bought a new position in CSX in the 2nd quarter valued at $765,595,000. Bank of New York Mellon Corp purchased a new stake in CSX in the second quarter worth $950,325,000. Deutsche Bank AG purchased a new stake in CSX in the second quarter worth $685,418,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CSX in the second quarter worth $224,809,000. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSX has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $54.00 target price (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Robert W. Baird raised their price target on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Susquehanna raised shares of CSX from a “neutral” rating to a “positive” rating and raised their price target for the stock from $50.00 to $58.00 in a research note on Tuesday, July 14th. TD Cowen lifted their price objective on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.31.

Insider Buying and Selling

In other news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business’s 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 directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is owned by insiders.

CSX Price Performance

Shares of CSX opened at $51.59 on Friday. 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 company has a 50 day moving average price of $49.38 and a 200-day moving average price of $45.15. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The stock has a market capitalization of $95.57 billion, a PE ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. CSX’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Equities analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced 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. 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 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.