CSX Corporation $CSX Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. reduced its position in shares of CSX Corporation (NASDAQ:CSX) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,071,634 shares of the transportation company’s stock after selling 12,135 shares during the period. Royal London Asset Management Ltd.’s holdings in CSX were worth $50,935,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial set a $46.00 price objective on CSX in a research report on Friday, July 10th. Argus set a $56.00 target price on CSX in a research report on Friday, July 31st. Susquehanna raised CSX from a “neutral” rating to a “positive” rating and upped their price target for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Robert W. Baird increased their price target on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, TD Cowen raised their price objective on CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Transactions at CSX

In related 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 transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, 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 Performance

Shares of CSX stock opened at $51.28 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The firm has a market cap of $94.99 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.34 and a beta of 1.21. The firm’s 50 day moving average price is $49.91 and its 200-day moving average price is $45.57. CSX Corporation has a one year low of $31.80 and a one year high of $53.60.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. As a group, equities research analysts predict 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. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is currently 32.37%.

About CSX

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.