OMERS ADMINISTRATION Corp Purchases Shares of 591,892 CSX Corporation $CSX

OMERS ADMINISTRATION Corp bought a new position in CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 591,892 shares of the transportation company’s stock, valued at approximately $28,133,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Canada Post Corp Registered Pension Plan grew its stake 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 buying an additional 24,566 shares in the last quarter. M. Kulyk & Associates LLC bought a new stake in CSX during the second quarter worth about $8,145,000. Wealthfront Advisers LLC purchased a new position in shares of CSX in the 2nd quarter worth about $7,609,000. First National Bank of Omaha bought a new position in shares of CSX during the 2nd quarter valued at about $6,248,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in shares of CSX during the 2nd quarter valued at about $6,598,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Citigroup raised their price objective on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Barclays restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Citizens Jmp started coverage on CSX in a research note on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Truist Financial set a $46.00 price target on shares of CSX in a report on Friday, July 10th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Transactions at CSX

In other news, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the sale, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction dated 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 approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 in the last ninety days. 0.30% of the stock is owned by company insiders.

CSX Stock Performance

NASDAQ:CSX opened at $51.59 on Monday. The company has a 50-day moving average price of $49.38 and a 200-day moving average price of $45.20. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock has a market cap of $95.57 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its earnings results 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 firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued 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 dividend yield of 1.1%. CSX’s dividend payout ratio is 32.37%.

CSX 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.