Headlands Technologies LLC Purchases Shares of 166,767 CSX Corporation $CSX

Headlands Technologies LLC purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, Holdings Channel.com reports. The firm purchased 166,767 shares of the transportation company’s stock, valued at approximately $7,926,000. CSX accounts for approximately 0.8% of Headlands Technologies LLC’s investment portfolio, making the stock its 15th largest position.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of CSX in the second quarter worth $7,655,277,000. XXEC Inc. purchased a new position in CSX during the second quarter worth about $765,595,000. Bank of America Corp DE purchased a new position in CSX during the second quarter worth about $1,598,962,000. Bank of New York Mellon Corp bought a new position in CSX in the 2nd quarter worth about $950,325,000. Finally, Legal & General Group Plc bought a new position in CSX in the 2nd quarter worth about $747,001,000. Institutional investors own 73.57% of the company’s stock.

Insider Buying and Selling at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock worth $9,132,304 over the last 90 days. Company insiders own 0.30% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $51.28 on Monday. The business has a 50 day moving average of $49.91 and a 200 day moving average of $45.60. The company has a market capitalization of $94.99 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.34 and a beta of 1.21. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) 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 business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s dividend payout ratio is 32.37%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citizens Jmp assumed coverage on CSX in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Weiss Ratings upgraded shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Truist Financial set a $46.00 target price on shares of CSX in a research note on Friday, July 10th. 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. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 price target (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.