E Fund Management Co. Ltd. Purchases New Shares in CSX Corporation $CSX

E Fund Management Co. Ltd. acquired a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 77,676 shares of the transportation company’s stock, valued at approximately $3,692,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after buying an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of CSX by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 2,281 shares during the period. WFA of San Diego LLC bought a new position in CSX during the 2nd quarter worth approximately $28,000. Captrust Financial Advisors grew its holdings in CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after purchasing an additional 3,162 shares during the period. Finally, Horizon Investments LLC grew its holdings in CSX by 22.5% during the third quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after purchasing an additional 27,280 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSX. BMO Capital Markets reissued a “market perform” rating and issued a $52.00 price target (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Raymond James Financial reissued an “outperform” rating and issued a $56.00 target price on shares of CSX in a research note on Monday, July 13th. Finally, Evercore set a $51.00 price target on CSX in a research report on Thursday, July 23rd. Eighteen investment 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Price Performance

Shares of NASDAQ CSX opened at $50.68 on Thursday. The stock has a market capitalization of $93.88 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.29 and a beta of 1.21. The business has a 50-day moving average of $49.23 and a 200-day moving average of $45.01. 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 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 for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. As a group, sell-side analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Insiders Place Their Bets

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is owned by 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.