120,551 Shares in CSX Corporation (NASDAQ:CSX) Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC has acquired 120,551 shares of CSX Corporation, valued at approximately $3.5 million, indicating new institutional interest in the transportation company.
• CSX recently reported earnings of $0.44 per share, exceeding analyst expectations, but also noted a 3.5% decline in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.13 per share, with a dividend yield of 1.5%, reflecting a commitment to returning value to shareholders.

Virtu Financial LLC acquired a new position in CSX Corporation (NASDAQ:CSX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 120,551 shares of the transportation company's stock, valued at approximately $3,548,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after purchasing an additional 15,029 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after buying an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after buying an additional 3,458 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after buying an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC bought a new position in shares of CSX in the fourth quarter worth approximately $4,869,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Up 0.5%

CSX opened at $35.43 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a market capitalization of $66.05 billion, a PE ratio of 21.87, a PEG ratio of 2.64 and a beta of 1.25. The firm's 50 day simple moving average is $33.56 and its two-hundred day simple moving average is $31.46.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the firm earned $0.49 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. CSX's dividend payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several analyst reports. Barclays upped their target price on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of CSX from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research note on Thursday, July 24th. Raymond James Financial upped their target price on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus lowered their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.00.

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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