Vista Investment Management Makes New $1.27 Million Investment in CSX Corporation $CSX

by · The Markets Daily

Vista Investment Management purchased a new stake in CSX Corporation (NASDAQ:CSXFree Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 26,822 shares of the transportation company’s stock, valued at approximately $1,275,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Canada Post Corp Registered Pension Plan increased its holdings in CSX by 34.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after purchasing an additional 24,566 shares in the last quarter. M. Kulyk & Associates LLC bought a new stake in shares of CSX in the second quarter valued at about $8,145,000. Wealthfront Advisers LLC bought a new stake in shares of CSX in the second quarter valued at about $7,609,000. First National Bank of Omaha acquired a new position in shares of CSX during the second quarter worth about $6,248,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in shares of CSX during the second quarter worth about $6,598,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Morgan Stanley set a $32.00 price target on CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 price target on shares of CSX in a research note on Monday, July 13th. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Finally, Stephens assumed coverage on shares of CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price objective on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Check Out Our Latest Stock Report on CSX

CSX Price Performance

Shares of CSX opened at $51.59 on Friday. 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 company’s fifty day simple moving average is $49.38 and its 200 day simple moving average is $45.15. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a market cap of $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSXGet Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 22.21% and a return on equity of 24.98%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. On average, research analysts forecast that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date 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 (DPR) is presently 32.37%.

CSX Profile

(Free Report)

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.

See Also

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