New Age Alpha Advisors LLC Boosts Position in CSX Corporation (NASDAQ:CSX)

Key Points

• New Age Alpha Advisors LLC increased its holdings in CSX Corporation by 33,664.1% in Q1, purchasing an additional 86,180 shares, bringing their total to 86,436 shares valued at $2.54 million.
• CSX has a market capitalization of $66.05 billion, a current ratio of 0.77, and reported a quarterly EPS of $0.44, surpassing estimates by $0.02.
• The company declared a quarterly dividend of $0.13, resulting in a 1.5% dividend yield, with a payout ratio of 32.10%.

New Age Alpha Advisors LLC lifted its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 33,664.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,436 shares of the transportation company's stock after acquiring an additional 86,180 shares during the quarter. New Age Alpha Advisors LLC's holdings in CSX were worth $2,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of CSX by 5.5% in 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 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 last quarter. Envestnet Asset Management Inc. increased its position in shares of CSX by 16.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,104,626 shares of the transportation company's stock worth $100,186,000 after purchasing an additional 435,769 shares during the period. Bank of Montreal Can lifted its stake in shares of CSX by 3.0% in the fourth quarter. Bank of Montreal Can now owns 3,596,189 shares of the transportation company's stock worth $116,049,000 after acquiring an additional 106,319 shares during the period. Finally, FIL Ltd grew its holdings in CSX by 13.1% during the fourth quarter. FIL Ltd now owns 1,616,122 shares of the transportation company's stock worth $52,152,000 after buying an additional 186,658 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSX. Susquehanna reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. Baird R W upgraded CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, 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 report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Trading Down 1.1%

Shares of CSX stock traded down $0.40 during mid-day trading on Monday, hitting $35.03. The company's stock had a trading volume of 3,820,642 shares, compared to its average volume of 15,899,104. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The company's fifty day simple moving average is $33.56 and its 200-day simple moving average is $31.45. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The company has a market cap of $65.31 billion, a PE ratio of 21.59, a P/E/G ratio of 2.64 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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 $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 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.