Magnetar Financial LLC Buys Shares of 234,887 CSX Corporation $CSX

Key Points

• Magnetar Financial LLC invested $6.91 million in CSX Corporation, acquiring 234,887 shares during the first quarter.
• CSX Corporation's stock is currently valued at $32.66, with a market capitalization of approximately $60.89 billion and a P/E ratio of 20.16.
• The company announced a quarterly dividend of $0.13 per share, resulting in an annualized dividend of $0.52 and a yield of 1.6% for stockholders.

Magnetar Financial LLC purchased a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 234,887 shares of the transportation company's stock, valued at approximately $6,913,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accredited Wealth Management LLC purchased a new position in CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX during the fourth quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX during the first quarter valued at approximately $30,000. Rossby Financial LCC acquired a new stake in shares of CSX in the first quarter valued at approximately $28,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of CSX in the first quarter valued at approximately $32,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSX has been the subject of several research analyst reports. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and raised their price target for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. Sanford C. Bernstein restated a "market perform" rating and set a $36.00 price target (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. The Goldman Sachs Group restated a "neutral" rating and set a $35.00 price target on shares of CSX in a research report on Monday, June 2nd. JPMorgan Chase & Co. lifted their target price on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets lowered CSX from an "outperform" rating to a "market perform" rating and set a $38.00 target price for the company. in a report on Monday, August 18th. 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Stock Performance

Shares of CSX traded down $0.32 during midday trading on Tuesday, reaching $32.19. The stock had a trading volume of 10,910,105 shares, compared to its average volume of 17,062,688. The firm has a market cap of $60.01 billion, a PE ratio of 19.87, a P/E/G ratio of 2.43 and a beta of 1.25. 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 firm has a 50 day simple moving average of $34.37 and a 200-day simple moving average of $31.64. CSX Corporation has a one year low of $26.22 and a one year high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 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 net margin of 21.92% and a return on equity of 25.48%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. As a group, sell-side analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

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