TD Waterhouse Canada Inc. grew its position in CSX Corporation (NASDAQ:CSX – Free Report) by 61.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 810,318 shares of the transportation company’s stock after purchasing an additional 309,145 shares during the period. TD Waterhouse Canada Inc.’s holdings in CSX were worth $39,177,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Archer Investment Corp purchased a new stake in CSX during the second quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new stake in CSX during the 2nd quarter worth $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in CSX during the 2nd quarter worth $29,000. Manning & Napier Advisors LLC acquired a new stake in CSX in the 2nd quarter valued at $30,000. Finally, Arlington Trust Co LLC increased its holdings in CSX by 58.0% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.
Analyst Ratings Changes
CSX has been the topic of a number of recent research reports. Robert W. Baird boosted their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Evercore set a $51.00 target price on CSX in a research note on Thursday, July 23rd. Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and raised their target price for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. BMO Capital Markets reissued a “market perform” rating and set a $52.00 price target (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company upped their price target on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.
CSX Stock Performance
Shares of CSX stock opened at $49.41 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The company’s fifty day moving average price is $50.16 and its two-hundred day moving average price is $45.86. The firm has a market capitalization of $91.53 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.30 and a beta of 1.21. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60.
CSX (NASDAQ:CSX – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm earned $0.44 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, research analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is 32.37%.
Insider Activity at CSX
In other CSX news, CAO Angela Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Burns sold 13,000 shares of the company’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 approximately $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. 0.30% of the stock is owned by insiders.
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.
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