43,200 Shares in CSX Corporation $CSX Acquired by iSAM Funds UK Ltd

iSAM Funds UK Ltd bought a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 43,200 shares of the transportation company’s stock, valued at approximately $2,053,000. CSX comprises about 1.5% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 5th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evolve Private Wealth LLC purchased a new position in shares of CSX in the second quarter valued at approximately $693,000. Canada Post Corp Registered Pension Plan increased its holdings in CSX by 34.2% in 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 buying an additional 24,566 shares during the last quarter. M. Kulyk & Associates LLC purchased a new position in shares of CSX in the 2nd quarter valued at about $8,145,000. Wealthfront Advisers LLC purchased a new position in CSX in the second quarter valued at approximately $7,609,000. Finally, First National Bank of Omaha acquired a new stake in CSX during the 2nd quarter worth $6,248,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $48.65 on Thursday. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The firm’s fifty day simple moving average is $50.10 and its 200 day simple moving average is $45.78. 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 firm has a market capitalization of $90.12 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last released its quarterly 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 business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business earned $0.44 EPS. The business’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio is 32.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CSX shares. JPMorgan Chase & Co. boosted their price objective on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Susquehanna raised CSX from a “neutral” rating to a “positive” rating and raised their price target for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Barclays reiterated an “overweight” rating and issued a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Stifel Nicolaus set a $54.00 target price on CSX in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $54.00 price target (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling

In other CSX news, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value 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 trade represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

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.