Sapient Capital LLC Has $1.13 Million Position in CSX Corporation $CSX

Sapient Capital LLC grew its stake in shares of CSX Corporation (NASDAQ:CSX) by 142.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 23,752 shares of the transportation company’s stock after acquiring an additional 13,955 shares during the period. Sapient Capital LLC’s holdings in CSX were worth $1,129,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Syon Capital LLC raised its holdings in shares of CSX by 4.3% during the second quarter. Syon Capital LLC now owns 29,275 shares of the transportation company’s stock worth $1,391,000 after acquiring an additional 1,195 shares in the last quarter. denkapparat Operations GmbH purchased a new position in CSX in the second quarter valued at about $748,000. TD Waterhouse Canada Inc. grew its stake in CSX by 61.7% in the second quarter. TD Waterhouse Canada Inc. now owns 810,318 shares of the transportation company’s stock valued at $39,177,000 after purchasing an additional 309,145 shares in the last quarter. Premier Path Wealth Partners LLC increased its position in CSX by 8.8% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 22,818 shares of the transportation company’s stock worth $1,085,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in shares of CSX by 15.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 56,642 shares of the transportation company’s stock worth $2,692,000 after purchasing an additional 7,550 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CSX shares. Robert W. Baird lifted their price target on CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Evercore set a $51.00 price objective on CSX in a report on Thursday, July 23rd. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the company an “underweight” rating in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $59.00 target price on shares of CSX in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insider Buying and Selling

In other news, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

CSX Price Performance

Shares of NASDAQ:CSX opened at $49.41 on Friday. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The business has a 50-day moving average of $50.16 and a two-hundred day moving average of $45.86. The stock has a market capitalization of $91.53 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.30 and a beta of 1.21. 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 results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 EPS. On average, equities research analysts predict that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

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