Canada Pension Plan Investment Board decreased its position in CSX Corporation (NASDAQ:CSX) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 504,578 shares of the transportation company’s stock after selling 109,322 shares during the period. Canada Pension Plan Investment Board’s holdings in CSX Corporation were worth $27,530,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CSX. Adirondack Trust Co. increased its stake in shares of CSX Corporation by 2.1% in the first quarter. Adirondack Trust Co. now owns 7,185 shares of the transportation company’s stock worth $335,000 after buying an additional 150 shares in the last quarter. TNB Financial bought a new stake in shares of CSX Corporation during the first quarter worth about $273,000. Honkamp Krueger Financial Services Inc. increased its stake in shares of CSX Corporation by 41.0% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 7,990 shares of the transportation company’s stock worth $372,000 after buying an additional 2,323 shares in the last quarter. Bristol John W & Co. Inc. NY bought a new stake in shares of CSX Corporation during the first quarter worth about $59,050,000. Finally, Iowa State Bank bought a new stake in shares of CSX Corporation during the first quarter worth about $217,000. 70.02% of the stock is currently owned by institutional investors and hedge funds.

CSX Corporation (NASDAQ:CSX) opened at 50.27 on Friday. The company has a market capitalization of $45.91 billion, a price-to-earnings ratio of 26.29 and a beta of 1.30. The company’s 50-day moving average price is $52.23 and its 200 day moving average price is $50.22. CSX Corporation has a 12 month low of $27.82 and a 12 month high of $55.48.

CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. Analysts forecast that CSX Corporation will post $2.30 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, August 29th. CSX Corporation’s dividend payout ratio is presently 41.88%.

CSX Corporation declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the transportation company to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

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CSX has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on CSX Corporation from $47.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, April 20th. FBR & Co reissued an “outperform” rating and set a $54.00 price target (up previously from $48.00) on shares of CSX Corporation in a research report on Thursday, April 20th. BMO Capital Markets reissued a “buy” rating and set a $58.00 price target on shares of CSX Corporation in a research report on Friday, April 21st. UBS AG raised CSX Corporation from a “market perform” rating to an “outperform” rating in a research report on Friday, April 21st. Finally, Aegis raised CSX Corporation from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $64.00 in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.74.

In other CSX Corporation news, Director Ridge Lp Mantle purchased 1,357,000 shares of the stock in a transaction on Friday, July 21st. The stock was acquired at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the purchase, the director now directly owns 106 shares of the company’s stock, valued at approximately $5,468.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.79% of the company’s stock.

CSX Corporation Company Profile

CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.

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Institutional Ownership by Quarter for CSX Corporation (NASDAQ:CSX)

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