Brasada Capital Management LP Makes New $998,000 Investment in CSX Corporation $CSX

Brasada Capital Management LP acquired a new stake in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,000 shares of the transportation company’s stock, valued at approximately $998,000.

A number of other hedge funds also recently made changes to their positions in CSX. Coastal Bridge Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth approximately $401,000. Jefferies Financial Group Inc. acquired a new position in shares of CSX during the 2nd quarter worth approximately $19,042,000. Public Employees Retirement System of Ohio bought a new stake in CSX in the 2nd quarter valued at $37,738,000. MASTERINVEST Kapitalanlage GmbH bought a new stake in CSX in the 2nd quarter valued at $350,000. Finally, XXEC Inc. acquired a new stake in CSX during the 2nd quarter valued at $2,947,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX opened at $51.54 on Friday. 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 business has a fifty day simple moving average of $49.80 and a 200 day simple moving average of $45.53. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. The company has a market capitalization of $95.48 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21.

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, topping the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the business earned $0.44 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.14 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio is 32.37%.

Insider Buying and Selling at CSX

In related news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 in the last three months. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Wells Fargo & Company increased their price objective on shares of CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Barclays restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Citigroup lifted 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. Finally, Stifel Nicolaus set a $54.00 price target on shares of CSX in a research note on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $51.31.

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.