Citizens Financial Group Inc. RI Acquires New Holdings in CSX Corporation $CSX

Citizens Financial Group Inc. RI bought a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, HoldingsChannel reports. The firm bought 36,160 shares of the transportation company’s stock, valued at approximately $1,719,000.

Other hedge funds have also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan lifted its stake in CSX by 34.2% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after buying an additional 24,566 shares in the last quarter. M3 Wealth Management LLC bought a new stake in shares of CSX during the second quarter worth $3,373,000. Baxter Bros Inc. bought a new stake in shares of CSX during the second quarter worth $4,672,000. KTF Investments LLC acquired a new stake in shares of CSX during the fourth quarter worth $1,325,000. Finally, BNB Wealth Management LLC acquired a new stake in shares of CSX during the fourth quarter worth $1,125,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Stifel Nicolaus set a $54.00 price target on CSX in a report on Thursday, July 23rd. Citigroup upped their price objective on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Argus set a $56.00 price objective on CSX in a report on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Activity at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,708 shares of company stock valued at $9,132,304 in the last 90 days. Insiders own 0.30% of the company’s stock.

CSX Stock Up 0.8%

CSX stock opened at $50.58 on Tuesday. The company has a market cap of $93.70 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. The company has a fifty day simple moving average of $49.08 and a 200 day simple moving average of $44.83. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60.

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