Quantbot Technologies LP Makes New $1.93 Million Investment in CSX Co. (NASDAQ:CSX)

Quantbot Technologies LP bought a new position in CSX Co. (NASDAQ:CSX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 52,082 shares of the transportation company’s stock, valued at approximately $1,931,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in CSX in the 4th quarter worth $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX during the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX during the 1st quarter valued at about $29,000. Valued Wealth Advisors LLC boosted its position in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in shares of CSX during the 4th quarter valued at about $34,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Jefferies Financial Group lowered their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus boosted their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday. Finally, Sanford C. Bernstein upped their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.39.

CSX Stock Up 0.1 %

CSX stock traded up $0.05 during midday trading on Friday, reaching $33.79. 6,764,398 shares of the company’s stock traded hands, compared to its average volume of 11,818,859. The company has a market cap of $66.06 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.78 and a beta of 1.20. The firm’s fifty day moving average price is $33.37 and its 200-day moving average price is $35.07. 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 Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th. 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.