Cartenna Capital LP Buys Shares of 2,754,705 CSX Co. (NASDAQ:CSX)

Cartenna Capital LP bought a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,754,705 shares of the transportation company's stock, valued at approximately $88,894,000. CSX makes up about 4.3% of Cartenna Capital LP's portfolio, making the stock its 3rd biggest position. Cartenna Capital LP owned approximately 0.14% of CSX at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CSX. Joel Isaacson & Co. LLC increased its holdings in CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock worth $421,000 after buying an additional 310 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock worth $1,027,000 after buying an additional 313 shares during the period. West Branch Capital LLC increased its holdings in CSX by 3.3% in the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company's stock worth $333,000 after buying an additional 332 shares during the period. Alhambra Investment Management LLC increased its holdings in CSX by 4.3% in the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company's stock worth $268,000 after buying an additional 342 shares during the period. Finally, Trust Point Inc. increased its holdings in CSX by 2.6% in the 4th quarter. Trust Point Inc. now owns 13,722 shares of the transportation company's stock worth $443,000 after buying an additional 344 shares during the period. Institutional investors own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX stock traded down $0.05 during mid-day trading on Tuesday, hitting $27.82. The stock had a trading volume of 3,205,090 shares, compared to its average volume of 12,666,541. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a market cap of $52.27 billion, a PE ratio of 15.55, a PEG ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company's 50-day simple moving average is $29.43 and its 200-day simple moving average is $32.21.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This is a boost from CSX's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. CSX's dividend payout ratio (DPR) is 31.14%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CSX. Stifel Nicolaus cut their price target on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group dropped their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets dropped their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Bank of America dropped their price objective on shares of CSX from $33.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Stephens reaffirmed an "overweight" rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and an average target price of $33.86.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.