iSAM Funds UK Ltd Makes New $2.05 Million Investment in CSX Corporation $CSX

iSAM Funds UK Ltd acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, Holdings Channel reports. The firm acquired 43,200 shares of the transportation company’s stock, valued at approximately $2,053,000. CSX comprises 1.5% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evolve Private Wealth LLC bought a new position in shares of CSX in the second quarter valued at $693,000. Canada Post Corp Registered Pension Plan boosted its position in CSX by 34.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after acquiring an additional 24,566 shares during the period. M. Kulyk & Associates LLC acquired a new position in shares of CSX in the 2nd quarter valued at about $8,145,000. Wealthfront Advisers LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $7,609,000. Finally, First National Bank of Omaha acquired a new stake in shares of CSX during the 2nd quarter valued at about $6,248,000. Institutional investors own 73.57% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value 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 represents a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CSX shares. Susquehanna raised shares of CSX from a “neutral” rating to a “positive” rating and raised their price objective for the company from $50.00 to $58.00 in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the stock an “underweight” rating in a report on Monday, July 6th. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Truist Financial set a $46.00 price target on shares of CSX in a research note on Friday, July 10th. Eighteen 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’s stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Stock Performance

CSX stock opened at $48.65 on Thursday. The stock has a 50-day simple moving average of $50.10 and a 200 day simple moving average of $45.78. 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 12-month low of $31.80 and a 12-month high of $53.60. The stock has a market capitalization of $90.12 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share 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 company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, 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. Stockholders of record on Monday, August 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. 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.