Northwestern Mutual Wealth Management Co. Purchases New Stake in CSX Corporation $CSX

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 391,180 shares of the transportation company’s stock, valued at approximately $18,593,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan raised its holdings in CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after purchasing an additional 24,566 shares in the last quarter. M. Kulyk & Associates LLC purchased a new position in shares of CSX during the second quarter valued at approximately $8,145,000. Wealthfront Advisers LLC purchased a new position in CSX during the second quarter valued at $7,609,000. First National Bank of Omaha purchased a new position in shares of CSX in the 2nd quarter worth about $6,248,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in CSX in the second quarter worth about $6,598,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of research analyst reports. Citizens Jmp assumed coverage on CSX in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Rothschild & Co Redburn lifted their price target on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Stephens assumed coverage on shares of CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. Argus set a $56.00 target price on shares of CSX in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.31.

Insiders Place Their Bets

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 189,708 shares of company stock valued at $9,132,304. Corporate insiders own 0.30% of the company’s stock.

CSX Stock Up 1.2%

Shares of CSX opened at $51.59 on Friday. The company has a market cap of $95.57 billion, a PE ratio of 29.82, a P/E/G ratio of 2.36 and a beta of 1.21. The business has a fifty day moving average of $49.38 and a 200 day moving average of $45.15. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio is presently 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.