GAMMA Investing LLC Has $31.10 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

GAMMA Investing LLC grew its stake in CSX Co. (NASDAQ:CSX - Free Report) by 3,526.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,056,831 shares of the transportation company's stock after buying an additional 1,027,687 shares during the period. GAMMA Investing LLC owned approximately 0.06% of CSX worth $31,103,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CSX. Quent Capital LLC lifted its stake in shares of CSX by 14.4% in the first quarter. Quent Capital LLC now owns 5,647 shares of the transportation company's stock worth $166,000 after buying an additional 712 shares during the last quarter. Sage Capital Advisors llc grew its stake in CSX by 0.6% in the 1st quarter. Sage Capital Advisors llc now owns 115,336 shares of the transportation company's stock valued at $3,394,000 after buying an additional 639 shares during the last quarter. Jacobs & Co. CA raised its holdings in CSX by 1.4% in the 1st quarter. Jacobs & Co. CA now owns 408,275 shares of the transportation company's stock worth $12,015,000 after acquiring an additional 5,520 shares during the period. Wellington Management Group LLP lifted 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. Finally, Mascagni Wealth Management Inc. bought a new stake in CSX during the fourth quarter valued at about $308,000. Institutional investors own 73.57% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CSX shares. Susquehanna cut their price objective on CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Citigroup dropped their target price on shares of CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday. Finally, Argus set a $32.00 price objective on shares of CSX in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.95.

CSX Price Performance

Shares of NASDAQ:CSX traded up $0.49 during trading on Friday, reaching $32.23. The stock had a trading volume of 16,163,880 shares, compared to its average volume of 13,107,252. The stock has a market capitalization of $60.55 billion, a PE ratio of 18.01, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The business's 50-day moving average price is $29.23 and its 200 day moving average price is $31.41.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, May 30th. CSX's dividend payout ratio is currently 31.14%.

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.