Woodline Partners LP Acquires Shares of 505,468 CSX Co. (NASDAQ:CSX)

Woodline Partners LP purchased a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 505,468 shares of the transportation company's stock, valued at approximately $16,311,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Merit Financial Group LLC increased its stake in shares of CSX by 48.8% in the 4th quarter. Merit Financial Group LLC now owns 25,664 shares of the transportation company's stock valued at $828,000 after buying an additional 8,412 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of CSX by 88.5% in the 4th quarter. Ameritas Advisory Services LLC now owns 11,250 shares of the transportation company's stock valued at $363,000 after buying an additional 5,281 shares during the period. Diversify Wealth Management LLC increased its stake in shares of CSX by 2.2% in the 4th quarter. Diversify Wealth Management LLC now owns 19,423 shares of the transportation company's stock valued at $617,000 after buying an additional 424 shares during the period. Pure Financial Advisors LLC acquired a new stake in shares of CSX in the 4th quarter valued at $221,000. Finally, Clear Harbor Asset Management LLC increased its stake in shares of CSX by 32.8% in the 4th quarter. Clear Harbor Asset Management LLC now owns 24,349 shares of the transportation company's stock valued at $786,000 after buying an additional 6,019 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSX shares. Wells Fargo & Company lowered their target price on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets decreased their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Stephens reaffirmed an "overweight" rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Raymond James reaffirmed an "outperform" rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a research note on Thursday, April 17th. Finally, UBS Group decreased their price objective on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.90.

CSX Stock Up 0.6%

Shares of CSX stock traded up $0.18 on Friday, hitting $30.82. 21,148,953 shares of the stock were exchanged, compared to its average volume of 12,943,997. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $57.90 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The business has a 50-day moving average of $28.91 and a 200 day moving average of $31.69. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.69%. CSX's payout ratio is presently 31.14%.

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.