Livforsakringsbolaget Skandia Omsesidigt Buys New Position in CSX Corporation $CSX

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 15,805 shares of the transportation company’s stock, valued at approximately $751,000.

A number of other large investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in shares of CSX in the second quarter valued at about $27,000. WFA of San Diego LLC bought a new stake in CSX in the second quarter worth $28,000. Manning & Napier Advisors LLC bought a new stake in shares of CSX in the 2nd quarter worth about $30,000. Arlington Trust Co LLC raised its position in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares during the period. Finally, First Bancorp Inc ME bought a new stake in CSX in the second quarter worth $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSX. Stifel Nicolaus set a $54.00 price target on CSX in a research note on Thursday, July 23rd. Bank of America increased their target price on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price target (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Truist Financial set a $46.00 price objective on shares of CSX in a research report on Friday, July 10th. Finally, TD Cowen raised their target price on CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Transactions at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares in the company, 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 189,708 shares of company stock worth $9,132,304 over the last three months. 0.30% of the stock is owned by insiders.

CSX Stock Down 0.5%

CSX stock opened at $51.28 on Friday. CSX Corporation has a one year low of $31.80 and a one year 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 firm has a market cap of $94.99 billion, a PE ratio of 29.64, a P/E/G ratio of 2.34 and a beta of 1.21. The firm’s fifty day moving average is $49.91 and its 200 day moving average is $45.57.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.CSX’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, research analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio 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.