CSX Corporation $CSX Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in CSX Corporation (NASDAQ:CSX) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 546,962 shares of the transportation company’s stock after purchasing an additional 36,770 shares during the quarter. Arizona State Retirement System’s holdings in CSX were worth $27,963,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Washington Trust Advisors Inc. increased its stake in shares of CSX by 7.2% during the second quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company’s stock valued at $149,000 after acquiring an additional 211 shares during the period. Arlington Trust Co LLC raised its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Greenleaf Trust lifted its holdings in shares of CSX by 0.4% during the second quarter. Greenleaf Trust now owns 69,023 shares of the transportation company’s stock valued at $3,281,000 after purchasing an additional 263 shares during the last quarter. Syon Capital LLC boosted its position in shares of CSX by 1.0% in the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after purchasing an additional 287 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in CSX by 1.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 18,038 shares of the transportation company’s stock worth $874,000 after purchasing an additional 300 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CSX. Barclays restated an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and increased their target price for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Truist Financial set a $46.00 target price on CSX in a research report on Friday, July 10th. 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. Finally, Weiss Ratings raised CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Down 0.8%

CSX stock traded down $0.41 during trading hours on Tuesday, hitting $49.00. The company had a trading volume of 7,452,859 shares, compared to its average volume of 12,778,660. The firm has a market capitalization of $90.77 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.32 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. The firm’s fifty day moving average is $50.19 and its 200-day moving average is $45.95. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60.

CSX (NASDAQ:CSX) last released its 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 company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

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

Insider Transactions at CSX

In related news, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was 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 approximately $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by company insiders.

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.