Korea Investment CORP Invests $40.90 Million in CSX Corporation $CSX

Korea Investment CORP bought a new position in CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 860,550 shares of the transportation company’s stock, valued at approximately $40,902,000.

Several other large investors have also added to or reduced their stakes in the business. EP Wealth Advisors LLC bought a new position in CSX in the 2nd quarter valued at about $6,863,000. Ieq Capital LLC bought a new stake in CSX during the 2nd quarter worth approximately $1,437,000. Burnham & Co LLC bought a new stake in CSX during the 2nd quarter worth approximately $93,000. Robinhood Asset Management LLC purchased a new stake in shares of CSX in the second quarter worth approximately $8,484,000. Finally, Callan Family Office LLC purchased a new stake in shares of CSX in the second quarter worth approximately $2,171,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX opened at $51.59 on Friday. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The firm has a 50-day moving average of $49.38 and a 200 day moving average of $45.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The firm has a market cap of $95.57 billion, a P/E ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced 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 company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. On average, research analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CSX shares. Bank of America raised their target price on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Evercore set a $51.00 price target on CSX in a report on Thursday, July 23rd. Raymond James Financial reissued an “outperform” rating and issued a $56.00 price target on shares of CSX in a research report on Monday, July 13th. Benchmark restated a “buy” rating and set a $54.00 price objective (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Eighteen investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Activity at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,598,700.00. Following the completion of the sale, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.

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.