AQR Capital Management LLC lifted its position in shares of CSX Co. (NASDAQ:CSX – Free Report) by 132.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 757,749 shares of the transportation company’s stock after buying an additional 432,387 shares during the period. AQR Capital Management LLC’s holdings in CSX were worth $23,301,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bornite Capital Management LP purchased a new stake in CSX during the first quarter valued at about $14,980,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after purchasing an additional 347,514 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of CSX by 12.7% during the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock worth $4,581,000 after purchasing an additional 13,829 shares during the period. Sei Investments Co. increased its position in CSX by 4.5% during the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock worth $7,361,000 after purchasing an additional 8,488 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in CSX by 16.8% in the first quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after buying an additional 10,276 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CSX. TD Cowen increased their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Stifel Nicolaus cut their price objective on CSX from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Raymond James boosted their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Thursday, January 25th. Finally, StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.24.
CSX Price Performance
Shares of CSX opened at $38.25 on Wednesday. CSX Co. has a 52 week low of $27.60 and a 52 week high of $40.12. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The firm has a market cap of $74.94 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.22 and a beta of 1.18. The stock has a 50 day moving average of $36.01 and a 200-day moving average of $33.02.
CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. As a group, analysts forecast that CSX Co. will post 1.96 EPS for the current year.
CSX Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.25%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is currently 26.09%.
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.
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