Polar Asset Management Partners Inc. Takes Position in CSX Corporation $CSX

Key Points

• Polar Asset Management Partners Inc. acquired 50,850 shares of CSX Corporation, valued at approximately $1,497,000, during the first quarter.
• CSX recently declared a quarterly dividend of $0.13, with an annualized yield of 1.6% and a payout ratio of 32.10%.
• The company reported quarterly earnings of $0.44 per share, beating estimates and showing revenue of $3.57 billion, despite a 3.5% decline year-over-year.

Polar Asset Management Partners Inc. purchased a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 50,850 shares of the transportation company's stock, valued at approximately $1,497,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after buying an additional 849 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of CSX by 2.8% during the fourth quarter. Cetera Investment Advisers now owns 407,245 shares of the transportation company's stock worth $13,142,000 after purchasing an additional 10,913 shares during the last quarter. Fiduciary Trust Co lifted its holdings in CSX by 8.6% in the fourth quarter. Fiduciary Trust Co now owns 49,902 shares of the transportation company's stock worth $1,610,000 after acquiring an additional 3,958 shares during the last quarter. Ethic Inc. lifted its holdings in CSX by 4.9% in the fourth quarter. Ethic Inc. now owns 112,163 shares of the transportation company's stock worth $3,620,000 after acquiring an additional 5,224 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in CSX by 15.3% in the fourth quarter. Focus Partners Wealth now owns 1,356,786 shares of the transportation company's stock worth $44,420,000 after acquiring an additional 180,467 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of research analyst reports. Susquehanna reiterated a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. Barclays raised their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Benchmark raised their price objective on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. BMO Capital Markets lowered shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price objective for the company. in a research note on Monday, August 18th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Performance

CSX stock traded down $0.24 on Friday, reaching $32.62. 4,090,261 shares of the stock were exchanged, compared to its average volume of 16,782,787. The stock has a market cap of $60.80 billion, a PE ratio of 20.13, a PEG ratio of 2.39 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. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.25. The firm has a fifty day moving average price of $34.28 and a two-hundred day moving average price of $31.64.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 21.92% and a return on equity of 25.48%. The business's revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. 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. Shareholders of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX's 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.