Hartree Partners LP Acquires New Holdings in CSX Corporation $CSX

Key Points

• Hartree Partners LP has acquired a $5.20 million stake in CSX Corporation, purchasing 176,631 shares, which represents about 1.9% of Hartree's portfolio.
• Institutional investors collectively own 73.57% of CSX's shares, indicating strong institutional interest in the transportation company.
• CSX recently announced a quarterly dividend of $0.13, yielding 1.5%, with a payout ratio of 32.10%.

Hartree Partners LP bought a new stake in CSX Corporation (NASDAQ:CSX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 176,631 shares of the transportation company's stock, valued at approximately $5,198,000. CSX makes up 1.9% of Hartree Partners LP's holdings, making the stock its 16th largest position.

Other large investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter valued at $27,000. Rossby Financial LCC acquired a new position in shares of CSX in the 1st quarter valued at $28,000. Accredited Wealth Management LLC acquired a new position in shares of CSX in the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the 4th quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSX. Baird R W upgraded shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Robert W. Baird increased their price target on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Citigroup increased their price target on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and increased their price target for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

Shares of CSX traded up $0.13 during trading hours on Wednesday, reaching $32.54. The company had a trading volume of 25,261,907 shares, compared to its average volume of 17,110,043. The firm has a 50 day simple moving average of $34.34 and a 200-day simple moving average of $31.66. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $60.66 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.45 and a beta of 1.25. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.25.

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

CSX Dividend Announcement

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