Ninepoint Partners LP Makes New Investment in CSX Corporation $CSX

Ninepoint Partners LP acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 43,732 shares of the transportation company’s stock, valued at approximately $2,079,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after acquiring an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 2,281 shares during the last quarter. WFA of San Diego LLC acquired a new position in CSX in the second quarter valued at $28,000. Captrust Financial Advisors grew its holdings in shares of CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after purchasing an additional 27,280 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Buying and Selling

In other news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director 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 SEC, which is accessible through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the company’s 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 sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 189,708 shares of company stock worth $9,132,304. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CSX. BMO Capital Markets reiterated a “market perform” rating and set a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. TD Cowen upped their target price on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Wolfe Research restated an “outperform” rating and set a $50.00 price target on shares of CSX in a research note on Thursday, April 23rd. Wall Street Zen lowered CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $59.00 price objective on shares of CSX in a research note on Friday, July 24th. 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 stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $51.31.

CSX Price Performance

Shares of CSX opened at $50.97 on Friday. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The company has a market capitalization of $94.42 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.21. The firm has a 50-day simple moving average of $49.30 and a 200-day simple moving average of $45.11. 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 results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, equities research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The business 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 dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is 32.37%.

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.