Wolverine Asset Management LLC Has $1.34 Million Stake in CSX Co. (NASDAQ:CSX)

Wolverine Asset Management LLC increased its stake in shares of CSX Co. (NASDAQ:CSX) by 344.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,000 shares of the transportation company’s stock after acquiring an additional 31,000 shares during the period. Wolverine Asset Management LLC’s holdings in CSX were worth $1,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX in the 1st quarter valued at $29,000. MFA Wealth Advisors LLC bought a new stake in CSX in the 2nd quarter valued at about $27,000. Valued Wealth Advisors LLC boosted its holdings in CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 594 shares during the period. Burkett Financial Services LLC bought a new stake in CSX in the 4th quarter valued at about $34,000. Finally, Tortoise Investment Management LLC bought a new stake in CSX in the 4th quarter valued at about $37,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSX. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Sanford C. Bernstein lifted their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX Stock Performance

Shares of CSX stock opened at $34.86 on Thursday. The firm’s 50-day simple moving average is $33.90 and its two-hundred day simple moving average is $34.69. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The firm has a market cap of $68.15 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.82 and a beta of 1.20.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. CSX’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts forecast that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. CSX’s dividend payout ratio (DPR) is 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.