CSX Corporation $CSX Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its holdings in CSX Corporation (NASDAQ:CSX) by 61.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 810,318 shares of the transportation company’s stock after acquiring 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 filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Archer Investment Corp acquired a new stake in shares of CSX in the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC purchased a new stake in CSX in the 2nd quarter valued at approximately $27,000. WFA of San Diego LLC purchased a new stake in CSX in the 2nd quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in CSX during the 2nd quarter valued at $29,000. Finally, Manning & Napier Advisors LLC purchased a new position in CSX during the second quarter worth $30,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred 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 trade represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of CSX 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 in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CSX shares. Wells Fargo & Company upped their price objective on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Benchmark restated a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Morgan Stanley set a $32.00 price target on shares of CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. Citigroup lifted their price target on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Stock Performance

CSX stock opened at $49.41 on Friday. The stock has a fifty day moving average price of $50.16 and a 200 day moving average price of $45.86. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The firm has a market capitalization of $91.53 billion, a P/E ratio of 28.56, a PEG ratio of 2.30 and a beta of 1.21. 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 (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS 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 analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is currently 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.