Dark Forest Capital Management LP Purchases Shares of 6,620 CSX Co. (NASDAQ:CSX)

Dark Forest Capital Management LP purchased a new stake in shares of CSX Co. (NASDAQ:CSX) in the second quarter, Holdings Channel.com reports. The firm purchased 6,620 shares of the transportation company’s stock, valued at approximately $221,000.

Several other institutional investors have also recently made changes to their positions in CSX. Price T Rowe Associates Inc. MD raised its stake in CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Capital International Investors increased its holdings in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of CSX by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after buying an additional 433,228 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $34.53 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market cap of $67.50 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.91 and a beta of 1.19. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The firm has a 50-day moving average of $33.92 and a 200-day moving average of $34.18.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $0.49 EPS. The business’s revenue was up .0% on a year-over-year basis. Sell-side analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CSX shares. Sanford C. Bernstein lifted their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Monday, July 8th. Susquehanna lifted their price target on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research note on Wednesday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Barclays reduced their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.93.

About CSX

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.