Andra AP fonden Acquires 25,400 Shares of CSX Corporation $CSX

Andra AP fonden increased its stake in CSX Corporation (NASDAQ:CSX) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 401,947 shares of the transportation company’s stock after buying an additional 25,400 shares during the period. Andra AP fonden’s holdings in CSX were worth $19,105,000 as of its most recent filing with the Securities & Exchange Commission.

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

CSX Stock Performance

CSX stock traded up $0.35 during trading on Tuesday, reaching $46.34. The stock had a trading volume of 3,859,446 shares, compared to its average volume of 12,681,601. The firm has a market cap of $85.84 billion, a PE ratio of 26.79, a PEG ratio of 2.21 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average is $50.07 and its two-hundred day moving average is $46.37. CSX Corporation has a 52 week low of $33.30 and a 52 week high of $53.60.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.89 billion. During the same period in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 31st. CSX’s dividend payout ratio is currently 32.37%.

Insider Buying and Selling

In other CSX news, SVP Michael Burns sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Angela 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 transaction, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. This represents a 74.19% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSX. Benchmark reaffirmed a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $54.00 target price (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Truist Financial set a $46.00 price target on CSX in a research note on Friday, July 10th. Bank of America lowered their price target on CSX from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Friday. Finally, Argus set a $56.00 price objective on CSX in a research report on Friday, July 31st. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $51.28.

CSX Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.