Danske Bank A S Acquires Shares of 944,503 CSX Corporation $CSX

Danske Bank A S acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 944,503 shares of the transportation company’s stock, valued at approximately $44,892,000. Danske Bank A S owned about 0.05% of CSX at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. N.E.W. Advisory Services LLC purchased a new position in CSX during the second quarter valued at $27,000. Arlington Trust Co LLC lifted its stake in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of CSX during the 2nd quarter valued at about $34,000. Allied Private Wealth LLC bought a new position in shares of CSX during the 2nd quarter valued at about $37,000. Finally, Wilkerson Advisory Group LLC grew its position in shares of CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.9%

Shares of NASDAQ:CSX opened at $50.68 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The company has a 50-day moving average price of $49.23 and a 200 day moving average price of $45.01. The company has a market cap of $93.88 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued 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 company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s payout ratio is currently 32.37%.

Insider Buying and Selling

In related news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the sale, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value 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 approximately $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CSX. Stephens started coverage on CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 target price on the stock. Benchmark restated a “buy” rating and set a $54.00 price target (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Truist Financial set a $46.00 price objective on CSX in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Eighteen investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.