Blueshift Asset Management LLC Makes New Investment in CSX Corporation (NASDAQ:CSX)

Key Points

• Blueshift Asset Management LLC has made a new investment in CSX Corporation by purchasing 17,343 shares worth approximately $510,000 during the 1st quarter.
• CSX announced a quarterly dividend of $0.13, which will be paid to shareholders on September 15th, representing an annual yield of 1.5%.
• The company reported earnings per share (EPS) of $0.44, surpassing expectations, although quarterly revenue was down 3.5% compared to the previous year.

Blueshift Asset Management LLC purchased a new position in CSX Corporation (NASDAQ:CSX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,343 shares of the transportation company's stock, valued at approximately $510,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after acquiring an additional 849 shares in the last quarter. Wellington Management Group LLP boosted its stake in CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after acquiring an additional 15,029 shares in the last quarter. Bryce Point Capital LLC bought a new stake in CSX during the fourth quarter worth about $479,000. OneAscent Financial Services LLC purchased a new position in CSX in the fourth quarter worth about $312,000. Finally, Nicolet Advisory Services LLC raised its holdings in CSX by 41.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 16,239 shares of the transportation company's stock worth $516,000 after buying an additional 4,774 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Price Performance

Shares of NASDAQ:CSX traded up $0.45 during midday trading on Monday, reaching $35.46. 13,545,316 shares of the company were exchanged, compared to its average volume of 21,068,458. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The business's fifty day moving average is $33.14 and its two-hundred day moving average is $31.36. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The stock has a market cap of $66.11 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last issued 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. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. CSX's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is presently 32.10%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and lifted their target price for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a report on Thursday, July 24th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $36.00 target price (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Evercore ISI decreased their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Baird R W raised shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.