Lombard Odier Asset Management Europe Ltd Invests $19.28 Million in CSX Corporation $CSX

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 405,718 shares of the transportation company’s stock, valued at approximately $19,284,000.

Other institutional investors have also recently modified their holdings of the company. Archer Investment Corp purchased a new stake in CSX in the 2nd quarter valued at approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in CSX during the second quarter worth $27,000. WFA of San Diego LLC purchased a new position in CSX during the second quarter worth $28,000. Pin Oak Investment Advisors Inc. purchased a new position in CSX during the second quarter worth $29,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of CSX in the second quarter worth $30,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSX. Wall Street Zen downgraded CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. BMO Capital Markets reissued a “market perform” rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Barclays reaffirmed an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Morgan Stanley set a $32.00 target price on CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Eighteen equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

Insider Buying and Selling at CSX

In related 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 approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction 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 transaction, the chief accounting officer owned 10,437 shares in the company, valued at $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. Insiders have sold 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 Price Performance

CSX stock opened at $51.28 on Friday. The company has a market cap of $94.99 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $49.91 and a two-hundred day moving average price of $45.57. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60.

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 in the previous year, the company posted $0.44 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s payout ratio is currently 32.37%.

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.