2,552,063 Shares in CSX Corporation $CSX Bought by PointState Capital LP

PointState Capital LP acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,552,063 shares of the transportation company’s stock, valued at approximately $121,300,000. CSX accounts for about 1.6% of PointState Capital LP’s holdings, making the stock its 23rd biggest holding. PointState Capital LP owned 0.14% of CSX as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CSX. Arlington Trust Co LLC raised its stake in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Syon Capital LLC boosted its stake in shares of CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after purchasing an additional 287 shares during the period. Root Financial Partners LLC boosted its stake in shares of CSX by 7.3% during the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC boosted its stake in shares of CSX by 2.7% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after purchasing an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. grew its holdings in CSX by 0.9% during the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock valued at $1,450,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Insider Activity 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 of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. The trade was a 39.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 189,708 shares of company stock worth $9,132,304. Insiders own 0.30% of the company’s stock.

CSX Trading Up 0.5%

CSX stock opened at $51.76 on Thursday. The company has a market capitalization of $95.88 billion, a PE ratio of 29.92, a P/E/G ratio of 2.35 and a beta of 1.21. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The firm’s 50-day moving average is $49.68 and its 200 day moving average is $45.45. 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 (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The company 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. On average, research analysts anticipate that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

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. 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 payout ratio is currently 32.37%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSX. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Bank of America upped their target price on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Robert W. Baird increased their price target on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, Evercore set a $51.00 price target on CSX in a research note on Thursday, July 23rd. Eighteen equities 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. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

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.