CSX Corporation (NASDAQ:CSX) Holdings Lifted by Davis R M Inc.

Key Points

• Davis R M Inc. significantly increased its holdings in CSX Corporation by 151.0%, acquiring a total of 34,337 shares valued at approximately $1,011,000.
• CSX recently reported earnings of $0.44 per share, exceeding analysts' estimates, though its revenue was down 3.5% compared to the prior year's quarter.
• The company plans to pay a quarterly dividend of $0.13 per share on September 15th, representing an annualized yield of 1.5%.

Davis R M Inc. grew its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 151.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,337 shares of the transportation company's stock after buying an additional 20,657 shares during the period. Davis R M Inc.'s holdings in CSX were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CSX. Brighton Jones LLC lifted its holdings in CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after purchasing an additional 849 shares during the period. Wellington Management Group LLP lifted its stake in shares of CSX by 14.7% in the 4th 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 during the period. Meeder Asset Management Inc. lifted its stake in shares of CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company's stock worth $35,000 after acquiring an additional 746 shares during the period. Summit Financial LLC boosted its holdings in shares of CSX by 13.1% in the fourth quarter. Summit Financial LLC now owns 29,634 shares of the transportation company's stock valued at $956,000 after acquiring an additional 3,436 shares in the last quarter. Finally, Bryce Point Capital LLC acquired a new position in shares of CSX during the fourth quarter valued at approximately $479,000. Institutional investors own 73.57% of the company's stock.

CSX Trading Up 0.7%

CSX stock opened at $35.54 on Friday. The company has a 50 day moving average price of $33.05 and a 200 day moving average price of $31.36. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The firm has a market capitalization of $66.26 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 2.64 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion for 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%. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Research analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. CSX's dividend payout ratio is currently 32.10%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. The Goldman Sachs Group restated a "neutral" rating and issued a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Royal Bank Of Canada reissued a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Benchmark upped their price objective on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Susquehanna reaffirmed a "neutral" rating and set a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. Finally, Baird R W upgraded shares of CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.

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