Machina Capital S.A.S. Makes New $1.11 Million Investment in CSX Corporation (NASDAQ:CSX)

Key Points

• Machina Capital S.A.S. acquired a new stake in CSX Corporation by purchasing 37,666 shares valued at approximately $1,109,000 in the first quarter.
• CSX reported a quarterly earnings per share (EPS) of $0.44, beating analysts' expectations, but experienced a 3.5% year-over-year revenue decline.
• Multiple analysts have upgraded their price targets for CSX, with TD Cowen raising it from $32.00 to $45.00, citing a shift from a "hold" to a "buy" rating.

Machina Capital S.A.S. acquired a new position in shares of 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 fund acquired 37,666 shares of the transportation company's stock, valued at approximately $1,109,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. AE Wealth Management LLC lifted its stake in shares of CSX by 1.1% during the first quarter. AE Wealth Management LLC now owns 697,009 shares of the transportation company's stock worth $20,513,000 after purchasing an additional 7,366 shares in the last quarter. Wedbush Securities Inc. grew its holdings in CSX by 14.6% during the 1st quarter. Wedbush Securities Inc. now owns 33,041 shares of the transportation company's stock valued at $972,000 after purchasing an additional 4,207 shares in the last quarter. Oak Thistle LLC grew its holdings in CSX by 65.8% during the 1st quarter. Oak Thistle LLC now owns 48,769 shares of the transportation company's stock valued at $1,435,000 after purchasing an additional 19,356 shares in the last quarter. PFG Advisors grew its holdings in CSX by 110.4% during the 1st quarter. PFG Advisors now owns 19,360 shares of the transportation company's stock valued at $570,000 after purchasing an additional 10,160 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its holdings in CSX by 3.9% during the 1st quarter. Carmel Capital Partners LLC now owns 53,470 shares of the transportation company's stock valued at $1,574,000 after purchasing an additional 1,984 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CSX shares. BMO Capital Markets boosted their price target on CSX from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday. Barclays boosted their price target on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday. Raymond James Financial boosted their price target on CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Citigroup boosted their price objective on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Benchmark boosted their price objective on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.26 during midday trading on Monday, hitting $36.02. 6,632,942 shares of the company's stock were exchanged, compared to its average volume of 15,731,719. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The stock's 50 day moving average price is $32.69 and its 200-day moving average price is $31.25. The firm has a market cap of $67.14 billion, a P/E ratio of 22.24, a PEG ratio of 3.16 and a beta of 1.23. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.44%. CSX's dividend payout ratio (DPR) is 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.