Caxton Associates LLP Acquires New Position in CSX Corporation $CSX

Key Points

• Caxton Associates LLP invested approximately $693,000 in CSX Corporation, acquiring 23,534 shares in the first quarter.
• Multiple analysts have shown optimism for CSX stock, with price target increases and several "buy" ratings, raising the average target price to $37.00.
• CSX announced a quarterly dividend of $0.13, representing an annualized yield of 1.6%, set to be paid on September 15th to shareholders of record on August 29th.

Caxton Associates LLP purchased a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,534 shares of the transportation company's stock, valued at approximately $693,000.

A number of other large investors also recently bought and sold shares of CSX. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX in the 4th quarter worth $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX during the 1st quarter worth approximately $30,000. Rossby Financial LCC acquired a new stake in shares of CSX during the 1st quarter valued at about $28,000. Kessler Investment Group LLC acquired a new stake in CSX in the first quarter valued at approximately $32,000. Finally, Putney Financial Group LLC acquired a new stake in CSX in the 4th quarter valued at $44,000. Institutional investors own 73.57% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on CSX shares. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company lifted their price target on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Citigroup lifted their target price on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. BMO Capital Markets cut CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price objective on the stock. in a research note on Monday, August 18th. Finally, Wall Street Zen cut shares of CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Performance

CSX stock traded down $0.38 on Friday, hitting $32.47. The company's stock had a trading volume of 9,253,621 shares, compared to its average volume of 21,929,234. The stock has a market cap of $60.53 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.45 and a beta of 1.25. The firm has a 50 day moving average of $34.26 and a two-hundred day moving average of $31.64. 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 1 year low of $26.22 and a 1 year high of $37.25.

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. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business posted $0.49 earnings per share. CSX's quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently declared 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. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio is 32.10%.

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.