1,634,900 Shares in CSX Corporation $CSX Acquired by Primecap Management Co. CA

Primecap Management Co. CA purchased a new position in shares of CSX Corporation (NASDAQ:CSX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,634,900 shares of the transportation company’s stock, valued at approximately $77,707,000. Primecap Management Co. CA owned 0.09% of CSX as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of CSX during the second quarter worth approximately $7,655,277,000. XXEC Inc. bought a new stake in shares of CSX in the second quarter valued at approximately $765,595,000. Bank of New York Mellon Corp acquired a new stake in CSX during the second quarter worth approximately $950,325,000. Legal & General Group Plc acquired a new stake in CSX during the second quarter worth approximately $747,001,000. Finally, Deutsche Bank AG bought a new position in CSX during the 2nd quarter worth $685,418,000. Institutional investors own 73.57% of the company’s stock.

Insider Activity at CSX

In related news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction that occurred 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. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the transaction, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 189,708 shares of company stock valued at $9,132,304. Company insiders own 0.30% of the company’s stock.

CSX Price Performance

CSX stock opened at $51.76 on Thursday. 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 Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The stock has a market capitalization of $95.88 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. The stock has a fifty day moving average of $49.68 and a 200-day moving average of $45.45.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the firm posted $0.44 earnings per share. CSX’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal 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 $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CSX. Royal Bank Of Canada reiterated an “outperform” rating and set a $54.00 target price (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Argus set a $56.00 price objective on shares of CSX in a research report on Friday, July 31st. Bank of America increased their price objective on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Truist Financial set a $46.00 target price on shares of CSX in a report on Friday, July 10th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

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.