Saudi Central Bank Purchases 61,466 Shares of CSX Corporation $CSX

Saudi Central Bank grew its position in CSX Corporation (NASDAQ:CSX) by 89.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 130,200 shares of the transportation company’s stock after buying an additional 61,466 shares during the period. Saudi Central Bank’s holdings in CSX were worth $6,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in CSX in the second quarter valued at about $7,655,277,000. XXEC Inc. acquired a new position in CSX during the 2nd quarter valued at about $765,595,000. Bank of America Corp DE acquired a new position in CSX during the 2nd quarter valued at about $1,598,962,000. Bank of New York Mellon Corp bought a new position in shares of CSX in the 2nd quarter valued at about $950,325,000. Finally, Legal & General Group Plc bought a new position in shares of CSX in the 2nd quarter valued at about $747,001,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $49.41 on Monday. The firm has a market capitalization of $91.53 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.32 and a beta of 1.21. The company’s 50 day simple moving average is $50.16 and its 200 day simple moving average is $45.89. 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 Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping 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 company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent research reports. Evercore set a $51.00 price target on shares of CSX in a research note on Thursday, July 23rd. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. TD Cowen upped their target price on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $59.00 price target on shares of CSX in a research report on Friday, July 24th. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.31.

Insider Buying and Selling

In other CSX news, SVP Michael 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 approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Angela Williams sold 30,000 shares of the 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 sale, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by corporate insiders.

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.