Deutsche Bank AG Invests $685.42 Million in CSX Corporation $CSX

Deutsche Bank AG purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,420,749 shares of the transportation company’s stock, valued at approximately $685,418,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in CSX during the 2nd quarter worth $950,325,000. Cohen & Steers Inc. lifted its position in shares of CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after purchasing an additional 98,977 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CSX during the 2nd quarter worth about $224,809,000. Captrust Financial Advisors boosted its stake in CSX by 4.4% during the 4th quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company’s stock valued at $15,345,000 after purchasing an additional 18,025 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its stake in CSX by 6.8% during the 1st quarter. Miller Howard Investments Inc. NY now owns 238,817 shares of the transportation company’s stock valued at $9,803,000 after purchasing an additional 15,310 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Up 0.8%

Shares of CSX stock opened at $50.58 on Tuesday. The firm has a fifty day moving average of $49.08 and a 200-day moving average of $44.83. The stock has a market cap of $93.70 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.29 and a beta of 1.21. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

CSX (NASDAQ:CSX) last issued 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. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared 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. 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 (DPR) is currently 32.37%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $41.00 price target (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Citigroup raised their price objective on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Wolfe Research reissued an “outperform” rating and issued a $50.00 price target on shares of CSX in a report on Thursday, April 23rd. New Street Research set a $49.00 price target on shares of CSX in a research report on Thursday, April 23rd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $52.00 price target (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Buying and Selling 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 sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 completion of the transaction, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,708 shares of company stock worth $9,132,304 in the last three months. 0.30% of the stock is currently owned by company insiders.

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.