21,378 Shares in CSX Corporation $CSX Acquired by Capstone Capital Management Ltd

Capstone Capital Management Ltd purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 21,378 shares of the transportation company’s stock, valued at approximately $994,000.

Other large investors have also added to or reduced their stakes in the company. Archer Investment Corp purchased a new stake in shares of CSX in the second quarter worth $26,000. N.E.W. Advisory Services LLC purchased a new position in shares of CSX during the 2nd quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new position in CSX in the 2nd quarter worth $29,000. Manning & Napier Advisors LLC bought a new position in CSX in the 2nd quarter worth $30,000. Finally, Arlington Trust Co LLC increased its stake in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.4%

Shares of CSX opened at $48.08 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average of $48.69 and a 200 day moving average of $47.46. The company has a market cap of $89.07 billion, a PE ratio of 27.79, a P/E/G ratio of 2.26 and a beta of 1.21. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating 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 business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that CSX Corporation will post 1.99 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. CSX’s payout ratio is currently 32.37%.

Key Headlines Impacting CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: New intermodal partnership: CSX and BNSF are teaming up to provide faster coast-to-coast domestic intermodal service. The arrangement could improve network connectivity, service reliability and CSX’s competitiveness in freight transportation. BNSF and CSX team up for faster coast-to-coast domestic intermodal service
• Positive Sentiment: Heavy call-option activity: Investors purchased 31,140 CSX call options Monday, 121% above the average daily volume. The activity signals increased speculative bullish interest, although options positioning does not guarantee a sustained stock advance.
• Positive Sentiment: Drone inspections: CSX is testing drone technology to improve rail-car inspections at its Curtis Bay terminal. Automation could enhance safety, inspection efficiency and operating productivity over time. CSX Uses Drones to Enhance Railcar Inspections at Curtis Bay Terminal
• Neutral Sentiment: Earnings approaching: CSX has scheduled its third-quarter results for October 21. The report is the main near-term catalyst, with investors likely focused on freight volumes, pricing, margins and management’s outlook. CSX schedules October 21 results
• Negative Sentiment: Raymond James lowered its CSX price target to $53 from $56. The reduction indicates a less optimistic view of the railroad’s near-term valuation, even though the revised target remains above the current share price. Raymond James cuts target for CSX stock

Insider Transactions at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This represents a 17.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated 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 directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Wells Fargo & Company lifted their target price on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Citigroup reissued a “cautious” rating on shares of CSX in a report on Wednesday, October 7th. Robert W. Baird upped their price target on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, TD Cowen increased their price objective on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Seventeen equities 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 company. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $51.17.

CSX Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.