denkapparat Operations GmbH Takes $748,000 Position in CSX Corporation $CSX

denkapparat Operations GmbH acquired 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 Securities and Exchange Commission. The firm acquired 15,738 shares of the transportation company’s stock, valued at approximately $748,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC increased its position in CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares in the last quarter. Greenleaf Trust raised its stake in CSX by 0.4% in the second quarter. Greenleaf Trust now owns 69,023 shares of the transportation company’s stock valued at $3,281,000 after buying an additional 263 shares during the last quarter. Syon Capital LLC boosted its holdings in CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after acquiring an additional 287 shares in the last quarter. Continuum Advisory LLC boosted its holdings in CSX by 1.4% in the second quarter. Continuum Advisory LLC now owns 22,925 shares of the transportation company’s stock worth $1,090,000 after acquiring an additional 318 shares in the last quarter. Finally, Root Financial Partners LLC grew its stake in shares of CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after acquiring an additional 323 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSX. Royal Bank Of Canada restated an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. TD Cowen lifted their target price on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Truist Financial set a $46.00 target price on shares of CSX in a research report on Friday, July 10th. Raymond James Financial restated an “outperform” rating and set a $56.00 price target on shares of CSX in a research note on Monday, July 13th. Finally, Barclays reaffirmed an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insider Buying and Selling at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by corporate insiders.

CSX Trading Up 0.7%

Shares of NASDAQ:CSX opened at $48.99 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The stock has a market cap of $90.75 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.29 and a beta of 1.21. The business has a 50-day moving average price of $50.13 and a 200-day moving average price of $45.83.

CSX (NASDAQ:CSX) last issued 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 analyst estimates of $3.89 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

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 paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

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.