Jump Financial LLC Increases Stake in CSX Corporation $CSX

Key Points

• Jump Financial LLC significantly increased its position in CSX Corporation by 2,414.8%, acquiring a total of 835,985 shares worth approximately $24.6 million according to its recent SEC filing.
• CSX reported a quarterly earnings per share (EPS) of $0.44, surpassing estimates, but faced a 3.5% decline in revenue year-over-year, totaling $3.57 billion.
• The company announced a quarterly dividend of $0.13 per share, reflecting a 1.5% dividend yield and a payout ratio of 32.10%.

Jump Financial LLC lifted its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 2,414.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 835,985 shares of the transportation company's stock after purchasing an additional 802,742 shares during the quarter. Jump Financial LLC's holdings in CSX were worth $24,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the 4th quarter worth $27,000. Rossby Financial LCC purchased a new stake in shares of CSX during the 1st quarter worth $28,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the 4th quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the 4th quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX during the 1st quarter worth $30,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Susquehanna restated a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. The Goldman Sachs Group restated a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Thursday, July 24th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $36.00 price target (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Finally, Barclays increased their price target on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One investment 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Price Performance

Shares of CSX traded up $0.12 during trading hours on Thursday, hitting $32.66. 7,576,919 shares of the stock were exchanged, compared to its average volume of 17,050,246. 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 12-month low of $26.22 and a 12-month high of $37.25. The company has a market cap of $60.88 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.42 and a beta of 1.25. The stock's 50-day moving average price is $34.35 and its two-hundred day moving average price is $31.67.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. CSX's dividend payout ratio is currently 32.10%.

CSX Company 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.