Crestline Management LP Buys New Shares in CSX Co. (NASDAQ:CSX)

Crestline Management LP purchased a new position in shares of CSX Co. (NASDAQ:CSX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 235,907 shares of the transportation company's stock, valued at approximately $7,613,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX in the fourth quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the 4th quarter valued at $31,000. Sierra Ocean LLC bought a new position in shares of CSX during the 4th quarter valued at $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in CSX by 219.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock worth $34,000 after purchasing an additional 714 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 0.8 %

NASDAQ:CSX opened at $28.47 on Tuesday. The firm has a 50-day simple moving average of $29.04 and a two-hundred day simple moving average of $31.98. The firm has a market cap of $53.48 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.92 and a beta of 1.22. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $3.53 billion. Analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.83%. CSX's dividend payout ratio (DPR) is 31.14%.

Wall Street Analyst Weigh In

CSX has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus dropped their target price on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. Argus set a $32.00 price target on CSX in a research note on Friday, April 25th. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, UBS Group decreased their target price on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.86.

CSX Profile

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.

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