CSX Corporation $CSX Shares Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in CSX Corporation by 1,701.2%, acquiring an additional 147,785 shares, which now brings their total holdings to 156,472 shares valued at approximately $4.6 million.
• CSX recently declared a quarterly dividend of $0.13 per share, representing a 1.6% yield, with a payout ratio of 32.10% as of the latest announcement.
• Analysts have raised their price targets for CSX shares, with a consensus price target set at $37.00, showing an overall positive sentiment towards the stock with most ratings categorized as "Buy" or "Moderate Buy."

Jacobs Levy Equity Management Inc. raised its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 1,701.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,472 shares of the transportation company's stock after purchasing an additional 147,785 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in CSX were worth $4,605,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the fourth quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX during the first quarter worth about $30,000. Rossby Financial LCC purchased a new stake in shares of CSX during the first quarter worth about $28,000. Kessler Investment Group LLC purchased a new stake in shares of CSX during the first quarter worth about $32,000. Finally, Putney Financial Group LLC purchased a new stake in shares of CSX during the fourth quarter worth about $44,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 1.2%

CSX stock traded down $0.38 during midday trading on Friday, hitting $32.47. The stock had a trading volume of 9,253,621 shares, compared to its average volume of 21,497,084. 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 stock has a market cap of $60.53 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.42 and a beta of 1.25. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.25. The business has a fifty day moving average price of $34.26 and a 200 day moving average price of $31.63.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.CSX's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. Research analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 is Friday, August 29th. CSX's payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CSX in a research report on Thursday, July 24th. Citigroup lifted their target price on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Barclays lifted their target price on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets lowered CSX from an "outperform" rating to a "market perform" rating and set a $38.00 target price on the stock. in a research report on Monday, August 18th. Finally, Robert W. Baird boosted their price objective on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, CSX presently has an average rating of "Moderate Buy" and an average 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.