XTX Topco Ltd Acquires 184,721 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• XTX Topco Ltd increased its stake in CSX Corporation by 397% in Q1, acquiring 184,721 shares, bringing its total holdings to 231,249 shares, valued at approximately $6.81 million.
• The stock received multiple upgrades from analysts, with Bank of America upgrading it to a "buy" rating and setting a new price target of $42.00, reflecting positive sentiment in the market.
• CSX recently announced a quarterly dividend of $0.13 per share, translating to an annualized dividend yield of 1.46%, while maintaining a dividend payout ratio of 32.10%.

XTX Topco Ltd grew its position in CSX Corporation (NASDAQ:CSX - Free Report) by 397.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 231,249 shares of the transportation company's stock after purchasing an additional 184,721 shares during the period. CSX comprises about 0.3% of XTX Topco Ltd's portfolio, making the stock its 19th largest position. XTX Topco Ltd's holdings in CSX were worth $6,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its holdings in shares of CSX by 5.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 119,682 shares of the transportation company's stock worth $3,520,000 after buying an additional 6,190 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of CSX in the first quarter worth $1,402,000. GSA Capital Partners LLP acquired a new position in CSX during the first quarter worth $4,465,000. Federated Hermes Inc. increased its stake in CSX by 4.8% in the 1st quarter. Federated Hermes Inc. now owns 12,206 shares of the transportation company's stock valued at $359,000 after buying an additional 556 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in CSX by 140.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 172,742 shares of the transportation company's stock worth $5,084,000 after buying an additional 100,834 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the topic of several analyst reports. Raymond James Financial upped their target price on CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group restated a "neutral" rating and set a $35.00 target price on shares of CSX in a report on Monday, June 2nd. BMO Capital Markets increased their price target on shares of CSX from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Jefferies Financial Group lowered their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Trading Down 1.5%

CSX traded down $0.53 during trading on Friday, hitting $35.01. The company's stock had a trading volume of 19,265,718 shares, compared to its average volume of 16,101,116. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $65.27 billion, a P/E ratio of 21.61, a PEG ratio of 2.64 and a beta of 1.23. The stock's fifty day moving average price is $33.05 and its 200-day moving average price is $31.36. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $3.57 billion for 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 business's revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 annualized dividend and a dividend yield of 1.5%. CSX's dividend 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.