Duality Advisers LP Purchases New Position in CSX Co. (NASDAQ:CSX)

Duality Advisers LP acquired a new position in shares of CSX Co. (NASDAQ:CSX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,097 shares of the transportation company’s stock, valued at approximately $1,750,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital International Investors boosted its holdings in shares of CSX by 26.7% in the 1st quarter. Capital International Investors now owns 20,891,017 shares of the transportation company’s stock worth $1,197,057,000 after acquiring an additional 4,400,639 shares in the last quarter. Capital World Investors boosted its stake in CSX by 6.8% in the first quarter. Capital World Investors now owns 60,681,919 shares of the transportation company’s stock worth $3,477,077,000 after purchasing an additional 3,886,502 shares in the last quarter. First Trust Advisors LP boosted its stake in CSX by 551.4% in the first quarter. First Trust Advisors LP now owns 1,210,917 shares of the transportation company’s stock worth $69,386,000 after purchasing an additional 1,025,009 shares in the last quarter. Invesco Ltd. grew its holdings in shares of CSX by 13.9% during the first quarter. Invesco Ltd. now owns 7,252,680 shares of the transportation company’s stock worth $415,580,000 after purchasing an additional 885,854 shares during the last quarter. Finally, Viking Global Investors LP acquired a new stake in shares of CSX in the first quarter valued at $48,372,000. 72.78% of the stock is owned by institutional investors.

A number of equities research analysts have commented on CSX shares. Credit Suisse Group increased their price objective on shares of CSX from $78.00 to $83.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. They noted that the move was a valuation call. Argus increased their price target on shares of CSX from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Morgan Stanley boosted their price objective on shares of CSX from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. TD Securities reduced their price objective on CSX from $79.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Finally, Cowen reissued a “neutral” rating on shares of CSX in a research note on Thursday, April 23rd. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. CSX currently has a consensus rating of “Buy” and a consensus target price of $73.45.

In related news, EVP Mark Kenneth Wallace sold 20,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $72.79, for a total transaction of $1,455,800.00. Following the completion of the transaction, the executive vice president now directly owns 58,252 shares in the company, valued at $4,240,163.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John J. Zillmer sold 20,500 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.13, for a total value of $1,478,665.00. Following the transaction, the director now owns 152,539 shares of the company’s stock, valued at $11,002,638.07. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Shares of NASDAQ CSX opened at $71.34 on Friday. CSX Co. has a 52-week low of $46.81 and a 52-week high of $80.62. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.51 and a current ratio of 1.62. The stock has a market cap of $54.61 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.67 and a beta of 1.23. The firm has a 50 day moving average price of $69.53 and a 200 day moving average price of $68.45.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. CSX had a net margin of 26.39% and a return on equity of 24.24%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm posted $1.08 earnings per share. Analysts predict that CSX Co. will post 3.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.26 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.46%. CSX’s dividend payout ratio is presently 24.94%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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