Voleon Capital Management LP Has $7.84 Million Holdings in CSX Corporation $CSX

Key Points

• Voleon Capital Management LP reduced its holdings in CSX Corporation by 7.6% during the first quarter, retaining 266,375 shares valued at approximately $7.84 million.
• CSX recently reported a quarterly earnings per share (EPS) of $0.44, surpassing analyst expectations of $0.42, while revenue for the quarter totaled $3.57 billion, a 3.5% decline from the previous year.
• The company declared a quarterly dividend of $0.13 per share, which equates to an annualized yield of 1.6%, with a payout ratio of 32.10%.

Voleon Capital Management LP lessened its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,375 shares of the transportation company's stock after selling 21,902 shares during the quarter. Voleon Capital Management LP's holdings in CSX were worth $7,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new position in CSX during the first quarter worth about $28,000. Fourth Dimension Wealth LLC bought a new position in CSX during the fourth quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in CSX during the first quarter worth about $30,000. Kessler Investment Group LLC bought a new position in CSX during the first quarter worth about $32,000. Finally, Cornerstone Planning Group LLC lifted its stake in CSX by 45.8% during the first quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company's stock worth $39,000 after purchasing an additional 444 shares during the period. Institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSX. Wall Street Zen lowered shares of CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Wells Fargo & Company upped 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. Benchmark raised their price objective on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Citigroup boosted their target price on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, BMO Capital Markets cut CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target 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 assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Price Performance

Shares of CSX stock traded up $0.80 during midday trading on Thursday, reaching $32.85. The company had a trading volume of 10,278,607 shares, compared to its average volume of 16,857,225. 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 company has a market capitalization of $61.24 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. The stock has a fifty day simple moving average of $34.29 and a 200 day simple moving average of $31.63. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The business 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%. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities research analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend 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.