NEOS Investment Management LLC Increases Stock Position in CSX Corporation $CSX

NEOS Investment Management LLC grew its holdings in shares of CSX Corporation (NASDAQ:CSX) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,419,480 shares of the transportation company’s stock after purchasing an additional 132,416 shares during the period. NEOS Investment Management LLC owned approximately 0.08% of CSX worth $67,468,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Archer Investment Corp purchased a new stake in shares of CSX in the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in CSX in the second quarter worth $27,000. WFA of San Diego LLC purchased a new position in CSX in the second quarter worth $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in CSX in the second quarter valued at $29,000. Finally, Manning & Napier Advisors LLC acquired a new stake in CSX in the second quarter valued at $30,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CSX

In other news, SVP Michael Burns sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Angela Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSX. JPMorgan Chase & Co. increased their price target on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Robert W. Baird boosted their price objective on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Argus set a $56.00 target price on shares of CSX in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Finally, TD Cowen lifted their price target on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Eighteen research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Trading Up 0.7%

Shares of CSX stock opened at $48.99 on Friday. The stock has a market cap of $90.75 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.29 and a beta of 1.21. 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 fifty-two week low of $31.80 and a fifty-two week high of $53.60. The business has a fifty day simple moving average of $50.13 and a 200-day simple moving average of $45.83.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business 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%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

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

About CSX

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.