230,023 Shares in CSX Corporation $CSX Purchased by J. Goldman & Co LP

J. Goldman & Co LP acquired a new stake in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 230,023 shares of the transportation company’s stock, valued at approximately $10,933,000.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in CSX during the 2nd quarter worth $7,655,277,000. XXEC Inc. purchased a new stake in shares of CSX in the 2nd quarter worth $765,595,000. Bank of New York Mellon Corp bought a new position in shares of CSX during the 2nd quarter worth $950,325,000. Legal & General Group Plc bought a new position in shares of CSX during the 2nd quarter worth $747,001,000. Finally, Deutsche Bank AG bought a new position in shares of CSX during the 2nd quarter worth $685,418,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CSX shares. Bank of America lifted their price objective on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Susquehanna raised shares of CSX from a “neutral” rating to a “positive” rating and raised their target price for the company from $50.00 to $58.00 in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Truist Financial set a $46.00 price target on shares of CSX in a research report on Friday, July 10th. Finally, Argus set a $56.00 price objective on shares of CSX in a research note on Friday, July 31st. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Trading Up 0.1%

NASDAQ CSX opened at $51.51 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The firm has a market cap of $95.42 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. The company has a 50 day moving average price of $49.55 and a 200 day moving average price of $45.37. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60.

CSX (NASDAQ:CSX) last announced its earnings results 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 net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm earned $0.44 earnings per share. CSX’s revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued 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 is Monday, August 31st. CSX’s dividend payout ratio is currently 32.37%.

Insiders Place Their Bets

In other news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was 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 in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,708 shares of company stock worth $9,132,304 over the last quarter. Company insiders own 0.30% of the company’s stock.

About CSX

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.