State of Wyoming Acquires New Position in CSX Corporation $CSX

State of Wyoming acquired a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,566 shares of the transportation company’s stock, valued at approximately $597,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Canada Post Corp Registered Pension Plan raised its stake in shares of CSX by 34.2% during 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 acquiring an additional 24,566 shares in the last quarter. Farther Finance Advisors LLC grew its stake in CSX by 159.5% in the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after purchasing an additional 45,116 shares in the last quarter. KTF Investments LLC bought a new position in CSX in the fourth quarter worth approximately $1,325,000. BNB Wealth Management LLC purchased a new position in CSX during the 4th quarter worth $1,125,000. Finally, Allstate Corp increased its holdings in CSX by 105.7% during the 4th quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock worth $4,962,000 after purchasing an additional 70,326 shares during the period. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSX. Wolfe Research reiterated an “outperform” rating and issued a $50.00 target price on shares of CSX in a report on Thursday, April 23rd. BMO Capital Markets restated a “market perform” rating and set a $52.00 price target (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Truist Financial set a $46.00 price objective on shares of CSX in a research note on Friday, July 10th. Weiss Ratings upgraded shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Buying and Selling

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated 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 trade represents a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 over the last quarter. 0.30% of the stock is currently owned by company insiders.

CSX Stock Performance

NASDAQ:CSX opened at $50.16 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $92.92 billion, a price-to-earnings ratio of 28.99, a PEG 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 firm has a 50 day moving average of $49.02 and a 200 day moving average of $44.74.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping 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 firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The company 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 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 currently 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.