Voleon Capital Management LP purchased a new stake in CSX Co. (NASDAQ:CSX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 288,277 shares of the transportation company's stock, valued at approximately $9,303,000. CSX makes up about 0.7% of Voleon Capital Management LP's portfolio, making the stock its 24th biggest position.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSX. Geode Capital Management LLC boosted its stake in shares of CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after buying an additional 726,507 shares during the period. Invesco Ltd. grew its stake in CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC increased its position in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Norges Bank purchased a new stake in shares of CSX during the 4th quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp grew its stake in shares of CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.
CSX Price Performance
Shares of CSX stock traded up $0.59 during mid-day trading on Friday, reaching $28.70. 11,525,727 shares of the stock were exchanged, compared to its average volume of 12,691,017. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a market cap of $53.91 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The firm has a 50-day simple moving average of $29.11 and a 200 day simple moving average of $32.05. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.
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). The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.
CSX Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio is presently 31.14%.
Analyst Upgrades and Downgrades
Several research firms have commented on CSX. Stifel Nicolaus decreased their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Argus set a $32.00 price objective on shares of CSX in a report on Friday, April 25th. UBS Group cut their target price on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company lowered their price objective on CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird decreased their target price on CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.86.
View Our Latest Stock Analysis on CSX
About CSX
(
Free Report)
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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