Woodline Partners LP Increases Stock Position in CSX Corporation $CSX

Key Points

• Woodline Partners LP has significantly increased its stake in CSX Corporation by 127.7%, owning approximately 1,151,161 shares valued at $33.9 million after acquiring an additional 645,693 shares.
• The company recently announced a quarterly dividend of $0.13 per share, representing an annualized dividend yield of 1.6%, scheduled to be paid on September 15th.
• Analysts have adjusted their price targets for CSX, with Citigroup raising it to $38.00 and Deutsche Bank setting a target at $40.00, reflecting a positive outlook for the stock.

Woodline Partners LP increased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 127.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,151,161 shares of the transportation company's stock after acquiring an additional 645,693 shares during the period. Woodline Partners LP owned approximately 0.06% of CSX worth $33,879,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in CSX in the 4th quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX in the 1st quarter worth approximately $30,000. Rossby Financial LCC purchased a new stake in CSX in the 1st quarter worth approximately $28,000. Kessler Investment Group LLC purchased a new stake in CSX in the 1st quarter worth approximately $32,000. Finally, Putney Financial Group LLC purchased a new stake in CSX in the 4th quarter worth approximately $44,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $32.20 on Wednesday. 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 Corporation has a 52 week low of $26.22 and a 52 week high of $37.25. The firm's fifty day moving average is $34.32 and its 200 day moving average is $31.63. The firm has a market cap of $60.03 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.42 and a beta of 1.25.

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. The business had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 EPS. Research analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Citigroup increased their target price on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Thursday, July 24th. Wells Fargo & Company increased their price target on shares of CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Wall Street Zen lowered shares of CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 price target (up previously from $33.00) on shares of CSX in a report on Tuesday, July 8th. One 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 company. According to data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target 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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