104,290 Shares in CSX Corporation $CSX Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd invested approximately $3.07 million in CSX Corporation, acquiring 104,290 shares, making it the firm’s 15th largest position.
• Analysts are optimistic about CSX, with multiple firms upgrading their ratings; Benchmark and Baird R W have set target prices ranging from $40.00 to $45.00.
• CSX recently reported quarterly earnings of $0.44 per share, slightly beating expectations, although revenue declined 3.5% compared to the previous year.

Dynamic Technology Lab Private Ltd bought a new stake in CSX Corporation (NASDAQ:CSX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 104,290 shares of the transportation company's stock, valued at approximately $3,069,000. CSX comprises about 0.4% of Dynamic Technology Lab Private Ltd's holdings, making the stock its 15th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CWA Asset Management Group LLC lifted its stake in shares of CSX by 15.1% in the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after acquiring an additional 1,642 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after purchasing an additional 3,458 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after purchasing an additional 5,382 shares during the period. GAMMA Investing LLC lifted its stake in shares of CSX by 23.2% in the first quarter. GAMMA Investing LLC now owns 35,910 shares of the transportation company's stock valued at $1,057,000 after purchasing an additional 6,766 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of CSX by 9.3% in the first quarter. Public Sector Pension Investment Board now owns 262,505 shares of the transportation company's stock valued at $7,726,000 after purchasing an additional 22,367 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 0.6%

CSX traded down $0.19 during trading on Friday, hitting $32.66. The company had a trading volume of 4,491,065 shares, compared to its average volume of 16,785,527. The company has a market cap of $60.89 billion, a PE ratio of 20.16, a P/E/G ratio of 2.39 and a beta of 1.25. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25. The business has a 50-day moving average of $34.28 and a 200-day moving average of $31.64. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm's revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. As a group, analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 1.6%. CSX's dividend payout ratio is currently 32.10%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSX shares. TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and raised their price objective for the company from $32.00 to $45.00 in a research note on Monday, July 21st. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and raised their target price for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Citigroup raised their target price on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company raised their target price 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. Finally, Wall Street Zen downgraded 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 given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

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.