Sciencast Management LP Invests $3.56 Million in CSX Corporation $CSX

Key Points

• Sciencast Management LP invested $3.56 million in CSX Corporation, acquiring over 120,000 shares, which constitutes about 0.8% of their portfolio and makes CSX their 26th largest position.
• CSX Corporation reported a quarterly earnings per share (EPS) of $0.44, surpassing analysts' expectations of $0.42, even though their revenue decreased by 3.5% year-over-year.
• The company declared a quarterly dividend of $0.13 per share, with a dividend yield of 1.6%, reflecting a dividend payout ratio of 32.10%.

Sciencast Management LP acquired a new position in CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 120,932 shares of the transportation company's stock, valued at approximately $3,559,000. CSX comprises approximately 0.8% of Sciencast Management LP's portfolio, making the stock its 26th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after acquiring an additional 5,033,743 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after acquiring an additional 2,599,518 shares during the last quarter. Northern Trust Corp grew its stake in shares of CSX by 4.6% in the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock worth $649,442,000 after acquiring an additional 969,567 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of CSX by 3.5% in the fourth quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock worth $681,696,000 after acquiring an additional 707,934 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of CSX by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock worth $551,540,000 after acquiring an additional 1,856,322 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Down 0.4%

Shares of NASDAQ CSX opened at $32.53 on Monday. The stock has a market cap of $60.65 billion, a PE ratio of 20.08, a PEG ratio of 2.43 and a beta of 1.25. The business has a fifty day moving average of $34.35 and a two-hundred day moving average of $31.62. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25. 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 (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.49 earnings per share. As a group, equities research analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued 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 dividend yield of 1.6%. CSX's dividend payout ratio (DPR) is presently 32.10%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSX. Wells Fargo & Company raised their price objective on shares of CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Susquehanna reiterated a "neutral" rating and set a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. Robert W. Baird lifted their price target on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. BMO Capital Markets downgraded shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target on the stock. in a research note on Monday, August 18th. Finally, Raymond James Financial lifted their price target on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

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.

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