Andra AP fonden Raises Stake in CSX Corporation $CSX

Andra AP fonden grew its position in CSX Corporation (NASDAQ:CSX) by 6.7% in the second quarter, HoldingsChannel.com reports. The firm owned 401,947 shares of the transportation company’s stock after acquiring an additional 25,400 shares during the period. Andra AP fonden’s holdings in CSX were worth $19,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of CSX during the 2nd quarter valued at $7,655,277,000. XXEC Inc. bought a new position in CSX in the 2nd quarter worth $765,595,000. Bank of America Corp DE purchased a new stake in CSX in the 2nd quarter worth $1,598,962,000. Bank of New York Mellon Corp purchased a new stake in CSX in the 2nd quarter worth $950,325,000. Finally, Legal & General Group Plc bought a new stake in CSX during the second quarter valued at about $747,001,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX stock traded up $0.35 during trading hours on Tuesday, hitting $46.34. The stock had a trading volume of 3,859,446 shares, compared to its average volume of 12,681,601. CSX Corporation has a one year low of $33.30 and a one year high of $53.60. 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 stock’s 50-day moving average price is $50.07 and its two-hundred day moving average price is $46.37. The stock has a market capitalization of $85.84 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.21 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion during 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%.The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. Equities analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, August 31st. CSX’s dividend payout ratio is currently 32.37%.

Insiders Place Their Bets

In other CSX news, 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 value of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets restated a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Citigroup increased their target price on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen cut CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Bank of America lowered their price target on CSX from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Friday. Finally, Evercore set a $51.00 price objective on shares of CSX in a report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $51.28.

CSX Company Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.