Twin Tree Management LP Purchases Shares of 15,072 CSX Corporation $CSX

Twin Tree Management LP acquired a new stake in CSX Corporation (NASDAQ:CSX) in the second quarter, HoldingsChannel reports. The fund acquired 15,072 shares of the transportation company’s stock, valued at approximately $716,000.

Several other institutional investors also recently modified their holdings of CSX. Haverford Trust Co bought a new stake in shares of CSX in the 2nd quarter valued at about $301,000. Clear Harbor Asset Management LLC acquired a new position in CSX during the second quarter worth approximately $956,000. First Nebraska Trust Co bought a new stake in CSX in the second quarter valued at approximately $533,000. Bank of Nova Scotia bought a new stake in CSX in the second quarter valued at approximately $36,727,000. Finally, Kendall Capital Management acquired a new stake in shares of CSX in the second quarter valued at approximately $228,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CSX. Stephens initiated coverage on CSX in a research note on Wednesday, July 8th. They set an “overweight” rating and a $57.00 target price for the company. Evercore set a $51.00 price target on CSX in a research note on Thursday, July 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price target (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Benchmark reaffirmed a “buy” rating and set a $54.00 price objective (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Finally, Bank of America lifted their price objective on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insider Transactions at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of CSX 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 completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 189,708 shares of company stock valued at $9,132,304. Corporate insiders own 0.30% of the company’s stock.

CSX Trading Up 1.2%

Shares of CSX stock opened at $51.59 on Friday. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The company has a market capitalization of $95.57 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The firm has a 50 day moving average price of $49.38 and a two-hundred day moving average price of $45.15. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $0.44 earnings per share. As a group, analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company 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 yield of 1.1%. CSX’s payout ratio 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.