Public Employees Retirement System of Ohio Buys Shares of 793,979 CSX Corporation $CSX

Public Employees Retirement System of Ohio purchased a new stake in CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent filing with the SEC. The firm purchased 793,979 shares of the transportation company’s stock, valued at approximately $37,738,000.

Several other large investors also recently modified their holdings of the business. N.E.W. Advisory Services LLC acquired a new position in shares of CSX during the second quarter worth about $27,000. Manning & Napier Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth approximately $30,000. Arlington Trust Co LLC raised its position in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares during the period. First Bancorp Inc ME acquired a new stake in CSX during the second quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. bought a new stake in CSX in the 2nd quarter valued at $34,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSX. Royal Bank Of Canada reiterated 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. Raymond James Financial reiterated an “outperform” rating and set a $56.00 price target on shares of CSX in a report on Monday, July 13th. Wall Street Zen lowered CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. TD Cowen lifted their target price on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley set a $32.00 price target on CSX and gave the company an “underweight” rating in a research report on Monday, July 6th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Performance

CSX stock opened at $51.28 on Friday. The firm has a fifty day simple moving average of $49.91 and a two-hundred day simple moving average of $45.57. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company has a market capitalization of $94.99 billion, a PE ratio of 29.64, a P/E/G ratio of 2.35 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.89 billion. During the same quarter last year, the firm earned $0.44 EPS. The company’s revenue was up 10.1% on a year-over-year basis. Research analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given 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 currently 32.37%.

Insider Buying and Selling at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This trade represents a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,708 shares of company stock valued at $9,132,304 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

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.