Headlands Technologies LLC Invests $9.96 Million in CSX Co. (NASDAQ:CSX)

Headlands Technologies LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 308,781 shares of the transportation company’s stock, valued at approximately $9,964,000. CSX accounts for about 1.0% of Headlands Technologies LLC’s portfolio, making the stock its 13th largest position.

Several other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in CSX in the 4th quarter worth $31,000. Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter valued at about $33,000. Center for Financial Planning Inc. increased its holdings in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of CSX by 216.2% in the fourth quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock worth $35,000 after buying an additional 746 shares during the period. Finally, Atala Financial Inc purchased a new stake in CSX during the 4th quarter valued at about $36,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 1.1 %

CSX stock opened at $29.43 on Tuesday. The business has a 50 day moving average of $31.68 and a 200 day moving average of $33.17. The firm has a market cap of $55.47 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. CSX Co. has a twelve month low of $28.98 and a twelve month high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.77%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company lowered their price target on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Raymond James reissued an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

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.