Danske Bank A S Invests $44.89 Million in CSX Corporation $CSX

Danske Bank A S purchased a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 944,503 shares of the transportation company’s stock, valued at approximately $44,892,000.

A number of other large investors also recently bought and sold shares of the business. Arlington Trust Co LLC grew its position in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares during the last quarter. Syon Capital LLC lifted its position in shares of CSX by 1.0% during the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after purchasing an additional 287 shares during the last quarter. Root Financial Partners LLC lifted its position in shares of CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted its stake in shares of CSX by 2.7% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after purchasing an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. grew its holdings in shares of CSX by 0.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CSX. TD Cowen lifted 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. Morgan Stanley set a $32.00 target price on shares of CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. Barclays reaffirmed an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Benchmark reissued a “buy” rating and issued a $54.00 price objective (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Finally, Bank of America increased their price objective on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $51.31.

Insider Buying and Selling

In other news, 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 value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is owned by insiders.

CSX Trading Up 0.9%

NASDAQ:CSX opened at $50.68 on Thursday. The firm has a 50-day simple moving average of $49.23 and a 200-day simple moving average of $45.01. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The firm has a market cap of $93.88 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (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 analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. CSX’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Equities analysts anticipate that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) 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.