Jupiter Topco LLC Takes $11.72 Million Position in CSX Corporation $CSX

Jupiter Topco LLC purchased a new position in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 246,628 shares of the transportation company’s stock, valued at approximately $11,719,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC grew its stake in CSX by 58.0% during 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 during the last quarter. Syon Capital LLC lifted its stake in CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after buying an additional 287 shares during the last quarter. Root Financial Partners LLC lifted its stake in CSX by 7.3% in the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after buying an additional 323 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted its holdings 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 acquiring an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. grew its position in shares of CSX by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after acquiring an additional 347 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CSX shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Citizens Jmp began coverage on shares of CSX in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Wells Fargo & Company lifted their price target on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Argus set a $56.00 price objective on CSX in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Buying and Selling at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 189,708 shares of company stock valued at $9,132,304 in the last ninety days. 0.30% of the stock is owned by insiders.

CSX Price Performance

Shares of NASDAQ:CSX opened at $51.28 on Friday. The stock has a market cap of $94.99 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The stock’s 50 day moving average price is $49.91 and its 200 day moving average price is $45.57.

CSX (NASDAQ:CSX) last issued 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 firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

CSX 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.