CSX Corporation (NASDAQ:CSX) Shares Bought by Waycross Partners LLC

Key Points

• Waycross Partners LLC increased its holdings in CSX Corporation by 23.1%, now owning 762,696 shares valued at approximately $22.4 million, making it the firm's 19th largest holding.
• Several major investors, including Wellington Management Group and CWA Asset Management Group, have also increased their stakes in CSX, indicating strong institutional confidence.
• CSX's recent earnings report revealed a better-than-expected EPS of $0.44, beating the consensus estimate, despite a 3.5% decline in revenue year-over-year.

Waycross Partners LLC lifted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 23.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762,696 shares of the transportation company's stock after acquiring an additional 143,225 shares during the quarter. CSX accounts for approximately 2.5% of Waycross Partners LLC's investment portfolio, making the stock its 19th largest holding. Waycross Partners LLC's holdings in CSX were worth $22,446,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of CSX by 14.7% during 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 last quarter. CWA Asset Management Group LLC raised its holdings in CSX by 15.1% in the first 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 in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of CSX by 9.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after buying an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of CSX by 61.4% in the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after buying an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC bought a new stake in shares of CSX in the 4th quarter valued at about $4,869,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CSX. The Goldman Sachs Group reiterated a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Robert W. Baird upped their price target on CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their target price on CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Thursday, July 24th. Finally, BMO Capital Markets raised their price target on CSX from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.18 during trading on Friday, reaching $35.43. 10,864,400 shares of the company traded hands, compared to its average volume of 21,548,876. The stock has a market cap of $66.05 billion, a P/E ratio of 21.87, a PEG ratio of 2.63 and a beta of 1.25. The firm's fifty day simple moving average is $33.56 and its 200 day simple moving average is $31.47. 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 12-month low of $26.22 and a 12-month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the business earned $0.49 earnings per share. CSX's quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company 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 $0.13 dividend. 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 1.5%. CSX's payout ratio is presently 32.10%.

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.