257,006 Shares in CSX Corporation $CSX Acquired by Commerce Bank

Commerce Bank acquired a new stake in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 257,006 shares of the transportation company’s stock, valued at approximately $12,215,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of CSX in the 2nd quarter worth $7,655,277,000. XXEC Inc. bought a new position in shares of CSX during the second quarter valued at $765,595,000. Bank of New York Mellon Corp purchased a new stake in shares of CSX during the second quarter valued at $950,325,000. Deutsche Bank AG purchased a new stake in shares of CSX during the second quarter valued at $685,418,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CSX in the 2nd quarter worth about $224,809,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Evercore set a $51.00 price target on shares of CSX in a research note on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price objective on shares of CSX in a report on Thursday, July 23rd. Argus set a $56.00 price objective on shares of CSX in a research report on Friday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $51.59 on Monday. The stock’s 50-day simple moving average is $49.38 and its two-hundred day simple moving average is $45.20. The stock has a market capitalization of $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Announces Dividend

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

Insider Buying and Selling at CSX

In other news, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction 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 owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 in the last ninety days. Corporate 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.