FORA Capital LLC Takes $7.07 Million Position in CSX Corporation $CSX

Key Points

• FORA Capital LLC has acquired a new position in CSX Corporation, purchasing 240,348 shares valued at approximately $7,073,000, making CSX the firm's 27th largest holding.
• Analyst ratings for CSX show a mix of opinions, with BMO Capital lowering its rating to "market perform," while Bank of America upgraded it to "buy" and raised the price target from $34 to $42.
• CSX's recent quarterly earnings report revealed an EPS of $0.44, exceeding estimates, though revenue declined 3.5% year-over-year, leading to a current consensus target price of $37.00.

FORA Capital LLC bought 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 fund bought 240,348 shares of the transportation company's stock, valued at approximately $7,073,000. CSX comprises 0.7% of FORA Capital LLC's holdings, making the stock its 27th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX during the 4th quarter worth $27,000. Rossby Financial LCC purchased a new position in CSX during the 1st quarter worth $28,000. Accredited Wealth Management LLC purchased a new stake in CSX during the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX during the 4th quarter valued at about $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX during the 1st quarter valued at about $30,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America raised CSX from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Baird R W upgraded CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. BMO Capital Markets lowered CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target for the company. in a research report on Monday, August 18th. Wall Street Zen lowered CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Finally, Benchmark lifted their target price on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.15 during trading on Friday, hitting $32.51. 13,464,388 shares of the stock were exchanged, compared to its average volume of 17,100,004. The company has a fifty day moving average price of $34.36 and a two-hundred day moving average price of $31.67. The company has a market cap of $60.61 billion, a PE ratio of 20.07, a P/E/G ratio of 2.43 and a beta of 1.25. 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 12-month low of $26.22 and a 12-month high of $37.25.

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

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is 32.10%.

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.