Quarry LP Increases Stock Position in CSX Co. (NASDAQ:CSX)

Quarry LP grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 413.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,425 shares of the transportation company’s stock after buying an additional 3,563 shares during the period. Quarry LP’s holdings in CSX were worth $143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after acquiring an additional 15,029 shares during the last quarter. Diversified Trust Co raised its holdings in CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new position in shares of CSX in the fourth quarter worth approximately $1,084,000. Carnegie Investment Counsel grew its holdings in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after buying an additional 8,474 shares during the last quarter. Finally, Waycross Partners LLC increased its position in shares of CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after acquiring an additional 40,611 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Barclays reduced their price objective on CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Argus set a $32.00 price target on shares of CSX in a report on Friday. Royal Bank of Canada decreased their price objective on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a report on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average price target of $33.86.

CSX Price Performance

NASDAQ:CSX opened at $27.87 on Tuesday. The stock has a market cap of $52.36 billion, a PE ratio of 15.57, a P/E/G ratio of 1.92 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The business’s 50-day simple moving average is $29.43 and its two-hundred day simple moving average is $32.21. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. As a group, analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.87%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is presently 31.14%.

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.