Blueshift Asset Management LLC Makes New $510,000 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 acquired a new stake in CSX Corporation (NASDAQ:CSX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,343 shares of the transportation company's stock, valued at approximately $510,000.

Several other institutional investors also recently modified their holdings of CSX. Brighton Jones LLC grew its holdings in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after purchasing an additional 849 shares during the period. Wellington Management Group LLP boosted its position 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 purchasing an additional 15,029 shares during the period. Bryce Point Capital LLC purchased a new position in shares of CSX in the fourth quarter worth about $479,000. OneAscent Financial Services LLC purchased a new position in CSX in the 4th quarter worth $312,000. Finally, Nicolet Advisory Services LLC boosted its position in CSX by 41.6% during the 4th quarter. Nicolet Advisory Services LLC now owns 16,239 shares of the transportation company's stock valued at $516,000 after buying an additional 4,774 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. UBS Group lowered their price target on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Baird R W upgraded shares of CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Raymond James Financial boosted their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and boosted their target price for the company from $32.00 to $45.00 in a research report on Monday, July 21st. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Performance

Shares of CSX traded up $0.36 during trading hours on Wednesday, reaching $36.01. 12,123,322 shares of the company traded hands, compared to its average volume of 16,025,251. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average price of $33.32 and a 200-day moving average price of $31.41. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The stock has a market capitalization of $67.13 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.65 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business's quarterly revenue 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. Equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

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 dividend of $0.13 per share. 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 1.4%. CSX's dividend payout ratio (DPR) is presently 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.