Neo Ivy Capital Management Takes Position in CSX Co. (NASDAQ:CSX)

Neo Ivy Capital Management acquired a new position in CSX Co. (NASDAQ:CSX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 59,451 shares of the transportation company's stock, valued at approximately $1,918,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after purchasing an additional 15,029 shares during the period. Marshall Financial Group LLC purchased a new position in shares of CSX in the 4th quarter worth $1,084,000. Waycross Partners LLC grew its holdings in shares of CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock worth $19,990,000 after acquiring an additional 40,611 shares during the period. Verde Servicos Internacionais S.A. increased its position in CSX by 38.4% during the fourth quarter. Verde Servicos Internacionais S.A. now owns 426,348 shares of the transportation company's stock valued at $13,758,000 after acquiring an additional 118,355 shares during the last quarter. Finally, Glassy Mountain Advisors Inc. increased its position in CSX by 2.4% during the fourth quarter. Glassy Mountain Advisors Inc. now owns 112,770 shares of the transportation company's stock valued at $3,639,000 after acquiring an additional 2,641 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of CSX stock traded down $0.05 during trading on Wednesday, reaching $31.39. 4,583,589 shares of the stock traded hands, compared to its average volume of 12,932,437. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $31.58. The company has a market capitalization of $58.96 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.92 and a beta of 1.22.

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 the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. Sell-side analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, May 30th. CSX's dividend payout ratio is presently 31.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CSX shares. BMO Capital Markets cut their price target on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Raymond James restated an "outperform" rating and set a $33.00 target price (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Citigroup reduced their target price on shares of CSX from $39.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Barclays dropped their price target on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group cut their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average target price of $33.90.

CSX 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.