GSA Capital Partners LLP Makes New Investment in CSX Corporation (NASDAQ:CSX)

Key Points

• GSA Capital Partners LLP acquired 151,729 shares in CSX Corporation for about $4.47 million, marking it as their 3rd largest holding.
• CSX reported $0.44 EPS for the last quarter, surpassing estimates, but saw a 3.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.13 per share, which translates to an annualized yield of 1.46%.

GSA Capital Partners LLP purchased a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 151,729 shares of the transportation company's stock, valued at approximately $4,465,000. CSX comprises approximately 0.4% of GSA Capital Partners LLP's portfolio, making the stock its 3rd biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX in the 4th quarter worth approximately $27,000. Rossby Financial LCC bought a new stake in shares of CSX in the 1st quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX in the 1st quarter worth approximately $30,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSX. Susquehanna restated a "neutral" rating and set a $35.00 price target on shares of CSX in a research report on Tuesday, June 24th. Evercore ISI dropped their price target on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Raymond James Financial lifted their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Stifel Nicolaus dropped their price target on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Bank of America upgraded CSX from a "neutral" rating to a "buy" rating and lifted their price target for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, CSX has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Down 1.4%

Shares of CSX stock traded down $0.52 during mid-day trading on Friday, hitting $35.03. The company's stock had a trading volume of 13,658,532 shares, compared to its average volume of 16,055,387. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. The business has a 50-day moving average price of $33.05 and a 200 day moving average price of $31.36. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock has a market cap of $65.30 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.64 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. Research analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

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

CSX Company 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.