SCS Capital Management LLC Buys Shares of 11,115 CSX Corporation $CSX

SCS Capital Management LLC bought a new position in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, Holdings Channel reports. The firm bought 11,115 shares of the transportation company’s stock, valued at approximately $528,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSX. Canada Post Corp Registered Pension Plan raised its holdings in shares of 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 acquiring an additional 24,566 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in CSX by 159.5% during the 4th quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after acquiring an additional 45,116 shares in the last quarter. KTF Investments LLC bought a new position in CSX during the 4th quarter worth about $1,325,000. BNB Wealth Management LLC purchased a new position in CSX during the 4th quarter valued at about $1,125,000. Finally, Cohen & Steers Inc. increased its position in CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after purchasing an additional 98,977 shares during the period. Institutional investors own 73.57% of the company’s stock.

Insider Activity

In other CSX news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction on Wednesday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction on 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 transaction, the senior vice president directly owned 59,643 shares in the company, valued at $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. Insiders have sold 189,708 shares of company stock valued at $9,132,304 in the last ninety days. 0.30% of the stock is currently owned by insiders.

CSX Stock Performance

CSX stock opened at $50.16 on Monday. The firm has a market cap of $92.92 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.29 and a beta of 1.21. The firm has a 50-day simple moving average of $49.02 and a two-hundred day simple moving average of $44.74. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore set a $51.00 price target on shares of CSX in a report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Bank of America boosted their price objective on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Argus set a $56.00 target price on CSX in a report on Friday, July 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 target price (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Company Profile

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.