Foresight Group Ltd Liability Partnership Takes Position in CSX Corporation $CSX

Key Points

• Foresight Group Ltd Liability Partnership has acquired 51,687 shares of CSX Corporation, valued at approximately $1.5 million, marking a new position in the company.
• CSX announced a quarterly dividend of $0.13 to be paid on September 15th, representing an annualized yield of 1.6%.
• Recent analyst reports have varied opinions on CSX, with Goldman Sachs giving a price target of $35.00 and Bank of America increasing theirs to $42.00, indicating a generally positive outlook on the stock.

Foresight Group Ltd Liability Partnership acquired a new position in CSX Corporation (NASDAQ:CSX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 51,687 shares of the transportation company's stock, valued at approximately $1,504,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in CSX by 42.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 8,687 shares of the transportation company's stock worth $280,000 after purchasing an additional 2,568 shares during the period. OMERS ADMINISTRATION Corp boosted its stake in CSX by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 82,555 shares of the transportation company's stock worth $2,664,000 after purchasing an additional 13,880 shares during the period. NorthRock Partners LLC grew its holdings in CSX by 133.5% during the 4th quarter. NorthRock Partners LLC now owns 17,306 shares of the transportation company's stock valued at $558,000 after buying an additional 9,896 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of CSX by 4.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 433,270 shares of the transportation company's stock valued at $14,064,000 after buying an additional 17,933 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 0.5%

Shares of NASDAQ:CSX opened at $32.05 on Thursday. The firm has a market capitalization of $59.75 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. 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 $37.25. The firm has a fifty day moving average of $34.29 and a 200 day moving average of $31.63.

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 (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company's revenue was down 3.5% compared to the same quarter last year. As a group, research analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX's payout ratio is presently 32.10%.

Analysts Set New Price Targets

CSX has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $36.00 target price (up previously from $33.00) on shares of CSX in a report on Tuesday, July 8th. Wells Fargo & Company raised 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. Wall Street Zen lowered shares of CSX from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Finally, Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and upped their price target for the stock from $34.00 to $42.00 in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, CSX has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.

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