GAMMA Investing LLC Has $580,000 Stake in CSX Co. (NASDAQ:CSX)

GAMMA Investing LLC raised its position in CSX Co. (NASDAQ:CSX) by 30.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,650 shares of the transportation company’s stock after purchasing an additional 3,670 shares during the quarter. GAMMA Investing LLC’s holdings in CSX were worth $580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. High Net Worth Advisory Group LLC increased its position in shares of CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after acquiring an additional 304 shares during the last quarter. Stratos Wealth Advisors LLC increased its position in shares of CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after acquiring an additional 304 shares during the last quarter. Cornercap Investment Counsel Inc. increased its position in shares of CSX by 0.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares during the last quarter. FCA Corp TX increased its position in shares of CSX by 0.3% in the fourth quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock valued at $4,007,000 after acquiring an additional 339 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in CSX by 2.0% during the third quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock worth $552,000 after buying an additional 352 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group lowered their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Bank of America lowered their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Susquehanna boosted their price objective on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada reduced their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.82.

CSX Stock Performance

NASDAQ CSX opened at $33.03 on Thursday. The company has a market capitalization of $64.57 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.71 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $33.69 and a 200 day simple moving average of $35.13. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Sell-side analysts expect that CSX Co. will post 1.96 EPS for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.