Tidal Investments LLC Boosts Holdings in CSX Corporation $CSX

Tidal Investments LLC boosted its stake in CSX Corporation (NASDAQ:CSX) by 28.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 477,559 shares of the transportation company’s stock after buying an additional 105,897 shares during the quarter. Tidal Investments LLC’s holdings in CSX were worth $23,510,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Evolve Private Wealth LLC acquired a new stake in shares of CSX in the second quarter valued at about $693,000. Canada Post Corp Registered Pension Plan lifted its position in CSX by 34.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after acquiring an additional 24,566 shares in the last quarter. M. Kulyk & Associates LLC acquired a new position in CSX during the 2nd quarter worth approximately $8,145,000. Wealthfront Advisers LLC purchased a new position in CSX in the 2nd quarter worth approximately $7,609,000. Finally, First National Bank of Omaha purchased a new position in CSX in the 2nd quarter worth approximately $6,248,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ:CSX opened at $49.04 on Friday. The business’s 50-day moving average price is $50.23 and its 200 day moving average price is $46.10. The firm has a market cap of $90.85 billion, a P/E ratio of 28.35, a PEG ratio of 2.27 and a beta of 1.21. CSX Corporation has a 52-week low of $31.96 and a 52-week high of $53.60. 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 (NASDAQ:CSX) last posted its quarterly earnings results 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 analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. As a group, sell-side analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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

Insider Activity

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the firm’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 transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CSX shares. Stephens started coverage on CSX in a report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price objective on the stock. Benchmark reissued a “buy” rating and set a $54.00 price target (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Evercore set a $51.00 price target on shares of CSX in a research note on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $54.00 target price (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Barclays reiterated an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CSX in a research report 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

CSX Company Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.