Tdam USA Inc. Increases Position in CSX Co. (NASDAQ:CSX)

Tdam USA Inc. increased its stake in CSX Co. (NASDAQ:CSX) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,454 shares of the transportation company’s stock after purchasing an additional 375 shares during the quarter. Tdam USA Inc.’s holdings in CSX were worth $345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IMA Wealth Inc. acquired a new stake in CSX in the 1st quarter valued at about $35,000. Destination Wealth Management acquired a new stake in CSX in the 1st quarter valued at about $36,000. FNY Investment Advisers LLC acquired a new stake in CSX in the 2nd quarter valued at about $36,000. Field & Main Bank acquired a new stake in CSX in the 1st quarter valued at about $41,000. Finally, Acima Private Wealth LLC acquired a new stake in CSX in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 76.74% of the company’s stock.

In related news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the sale, the executive vice president now directly owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.83% of the stock is currently owned by company insiders.

Shares of CSX stock traded down $0.05 during mid-day trading on Thursday, hitting $64.53. 937,446 shares of the stock were exchanged, compared to its average volume of 7,985,188. CSX Co. has a twelve month low of $58.47 and a twelve month high of $80.73. The company has a market cap of $52.54 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. The stock has a 50-day moving average of $72.36. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the business earned $1.01 earnings per share. CSX’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that CSX Co. will post 4.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.49%. CSX’s dividend payout ratio is presently 25.00%.

A number of equities research analysts recently commented on CSX shares. Goldman Sachs Group started coverage on shares of CSX in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 price objective on the stock. Credit Suisse Group lowered their price objective on shares of CSX from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Cowen reissued a “market perform” rating and issued a $78.00 price objective (down from $80.00) on shares of CSX in a research note on Wednesday, July 17th. BMO Capital Markets increased their price objective on shares of CSX from $76.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Cascend Securities cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $78.13.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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