Cibc World Market Inc. Takes $63.58 Million Position in CSX Corporation $CSX

Cibc World Market Inc. purchased a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,337,674 shares of the transportation company’s stock, valued at approximately $63,580,000. Cibc World Market Inc. owned 0.07% of CSX at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of CSX by 3.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock worth $2,428,000 after buying an additional 2,281 shares in the last quarter. WFA of San Diego LLC acquired a new position in shares of CSX during the 2nd quarter worth $28,000. Captrust Financial Advisors lifted its position in shares of CSX by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after buying an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in shares of CSX by 22.5% during the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after buying an additional 27,280 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Activity at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the 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 transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 189,708 shares of company stock worth $9,132,304. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Citigroup increased their target price on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Morgan Stanley set a $32.00 price target on shares of CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Stephens began coverage on shares of CSX in a report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price target on the stock. Finally, Citizens Jmp initiated coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Price Performance

Shares of CSX opened at $51.59 on Monday. The business has a 50-day moving average of $49.38 and a 200-day moving average of $45.20. 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 company has a market capitalization of $95.57 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60.

CSX (NASDAQ:CSX) last issued 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. 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 prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. 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 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.