Stifel Financial Corp Buys 556,643 Shares of CSX Co. (NASDAQ:CSX)

Stifel Financial Corp lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 187.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 854,092 shares of the transportation company’s stock after acquiring an additional 556,643 shares during the period. Stifel Financial Corp’s holdings in CSX were worth $27,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ClearBridge Investments Ltd lifted its stake in CSX by 86.5% in the second quarter. ClearBridge Investments Ltd now owns 2,393,724 shares of the transportation company’s stock worth $76,791,000 after purchasing an additional 1,110,063 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of CSX by 545.6% during the second quarter. Moneta Group Investment Advisors LLC now owns 20,355 shares of the transportation company’s stock valued at $653,000 after purchasing an additional 17,202 shares in the last quarter. Eudaimonia Partners LLC boosted its position in shares of CSX by 218.6% during the second quarter. Eudaimonia Partners LLC now owns 31,131 shares of the transportation company’s stock valued at $999,000 after purchasing an additional 21,360 shares in the last quarter. Soros Capital Management LLC bought a new stake in shares of CSX during the second quarter valued at approximately $11,270,000. Finally, Banco de Sabadell S.A boosted its position in shares of CSX by 216.4% during the second quarter. Banco de Sabadell S.A now owns 60,182 shares of the transportation company’s stock valued at $1,936,000 after purchasing an additional 41,163 shares in the last quarter. 71.79% of the stock is owned by institutional investors.

NASDAQ:CSX opened at $32.58 on Thursday. The stock has a 50-day simple moving average of $31.99 and a two-hundred day simple moving average of $32.90. CSX Co. has a 52-week low of $25.13 and a 52-week high of $34.96. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.20 and a current ratio of 2.34. The firm has a market capitalization of $73.45 billion, a PE ratio of 22.01, a P/E/G ratio of 1.80 and a beta of 1.14.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. CSX had a return on equity of 23.96% and a net margin of 29.93%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. CSX’s revenue for the quarter was up 32.6% on a year-over-year basis. Equities analysts forecast that CSX Co. will post 1.51 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th will be issued a dividend of $0.093 per share. This represents a $0.37 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, November 29th. CSX’s dividend payout ratio is presently 30.33%.

A number of brokerages have issued reports on CSX. Evercore ISI reiterated a “buy” rating and set a $34.00 price objective on shares of CSX in a research note on Friday, September 24th. Susquehanna boosted their price target on CSX from $37.00 to $38.00 and gave the stock a “positive” rating in a research note on Thursday, July 22nd. Royal Bank of Canada cut CSX from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $37.00 to $32.00 in a research note on Friday, September 17th. Stifel Nicolaus boosted their price target on CSX from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, July 22nd. Finally, Cowen boosted their price target on CSX from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.70.

In related news, EVP Mark Kenneth Wallace sold 161,487 shares of the business’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $31.60, for a total value of $5,102,989.20. Following the sale, the executive vice president now owns 314,766 shares in the company, valued at $9,946,605.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nathan D. Goldman sold 35,000 shares of the business’s stock in a transaction on Monday, July 26th. The stock was sold at an average price of $32.87, for a total transaction of $1,150,450.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 291,487 shares of company stock valued at $9,367,739. Corporate insiders own 0.60% of the company’s stock.

CSX Profile

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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