CSX Corporation (NASDAQ:CSX) is Headlands Technologies LLC's 5th Largest Position

Key Points

• Headlands Technologies LLC increased its holdings in CSX Corporation by 88.0%, acquiring an additional 271,734 shares, bringing its total ownership to 580,515 shares valued at $17,085,000.
• CSX's quarterly earnings beat analysts' expectations, reporting an EPS of $0.44, with revenues totaling $3.57 billion, although this represented a 3.5% decline year-over-year.
• The company declared a quarterly dividend of $0.13, yielding 1.4%, to be paid in September, with a payout ratio of 32.10%.

Headlands Technologies LLC lifted its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 88.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 580,515 shares of the transportation company's stock after buying an additional 271,734 shares during the quarter. CSX makes up about 1.9% of Headlands Technologies LLC's investment portfolio, making the stock its 5th largest position. Headlands Technologies LLC's holdings in CSX were worth $17,085,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CSX. Brighton Jones LLC lifted its holdings 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 worth $525,000 after buying an additional 849 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after buying an additional 15,029 shares in the last quarter. Envestnet Asset Management Inc. increased its position in 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 last quarter. Bank of Montreal Can increased its position in 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 purchasing an additional 106,319 shares during the last quarter. Finally, FIL Ltd increased its position in CSX by 13.1% in the fourth quarter. FIL Ltd now owns 1,616,122 shares of the transportation company's stock worth $52,152,000 after purchasing an additional 186,658 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analyst Ratings Changes

CSX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded CSX from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Baird R W upgraded CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Susquehanna restated a "neutral" rating and set a $35.00 target price on shares of CSX in a research report on Tuesday, June 24th. Finally, UBS Group dropped their target price on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Seven 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Up 0.5%

NASDAQ:CSX traded up $0.18 during mid-day trading on Friday, reaching $35.43. The company's stock had a trading volume of 10,864,400 shares, compared to its average volume of 21,548,876. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The stock has a fifty day moving average of $33.56 and a 200-day moving average of $31.47. The firm has a market capitalization of $66.05 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

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 company had revenue of $3.57 billion during 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 firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Equities research analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.13 per share. 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 is presently 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.