Novem Group Grows Stock Holdings in CSX Corporation (NASDAQ:CSX)

Novem Group boosted its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 29.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,398 shares of the transportation company's stock after purchasing an additional 8,190 shares during the quarter. Novem Group's holdings in CSX were worth $1,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Wellington Management Group LLP raised its stake in CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after purchasing an additional 15,029 shares during the period. CWA Asset Management Group LLC lifted its position in shares of CSX by 15.1% during the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after purchasing an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in CSX by 9.8% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after buying an additional 3,458 shares during the period. Farther Finance Advisors LLC increased its position in CSX by 61.4% during the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after acquiring an additional 5,382 shares during the period. Finally, Cercano Management LLC acquired a new stake in CSX during the fourth quarter worth about $4,869,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Down 0.5%

CSX stock traded down $0.18 on Thursday, hitting $33.43. 5,638,784 shares of the stock traded hands, compared to its average volume of 13,303,420. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The business's fifty day simple moving average is $30.98 and its 200 day simple moving average is $31.06. The firm has a market cap of $62.80 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. As a group, sell-side analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. CSX's dividend payout ratio is 31.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their price objective on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Citigroup decreased their price objective on CSX from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Barclays cut their price objective on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada reduced their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.14.

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.