denkapparat Operations GmbH Purchases New Position in CSX Corporation $CSX

denkapparat Operations GmbH purchased a new stake in CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,738 shares of the transportation company’s stock, valued at approximately $748,000.

Other hedge funds have also bought and sold shares of the company. Archer Investment Corp acquired a new stake in shares of CSX during the 2nd quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in shares of CSX during the 2nd quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of CSX in the 2nd quarter valued at $29,000. Manning & Napier Advisors LLC acquired a new position in shares of CSX in the 2nd quarter valued at $30,000. Finally, Arlington Trust Co LLC boosted its holdings in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.7%

CSX stock opened at $48.99 on Friday. The stock has a market capitalization of $90.75 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.29 and a beta of 1.21. The firm has a 50-day simple moving average of $50.13 and a 200-day simple moving average of $45.83. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company posted $0.44 EPS. CSX’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued 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 dividend yield of 1.1%. CSX’s dividend payout ratio is presently 32.37%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the company an “underweight” rating in a report on Monday, July 6th. Citigroup increased their target price on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. BMO Capital Markets restated a “market perform” rating and issued a $52.00 price target (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Wells Fargo & Company upped their price target on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Finally, Stifel Nicolaus set a $54.00 price target on CSX in a research report on Thursday, July 23rd. Eighteen 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 presently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Insider Buying and Selling

In related news, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value 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. This represents a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

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.