Interval Partners LP Acquires New Shares in CSX Co. (NASDAQ:CSX)

Interval Partners LP acquired a new stake in CSX Co. (NASDAQ:CSX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 539,407 shares of the transportation company’s stock, valued at approximately $19,996,000.

Several other hedge funds have also recently bought and sold shares of CSX. Norges Bank acquired a new stake in CSX during the 4th quarter valued at $757,276,000. Price T Rowe Associates Inc. MD grew its holdings in CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after buying an additional 9,914,656 shares during the last quarter. Capital International Investors grew its holdings in CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. M&G Plc acquired a new stake in CSX during the 1st quarter valued at $126,089,000. Finally, Canada Pension Plan Investment Board grew its holdings in CSX by 58.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,336,019 shares of the transportation company’s stock valued at $86,596,000 after buying an additional 858,387 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 1.8 %

NASDAQ:CSX traded up $0.62 during mid-day trading on Tuesday, hitting $35.02. The company had a trading volume of 12,362,126 shares, compared to its average volume of 11,805,835. The business has a fifty day simple moving average of $33.47 and a 200-day simple moving average of $35.05. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a market capitalization of $68.46 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.86 and a beta of 1.20.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company began coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. UBS Group decreased their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada decreased their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group decreased their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $38.14.

CSX 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.