Verum Partners LLC Acquires New Shares in CSX Co. (NASDAQ:CSX)

Verum Partners LLC acquired a new position in shares of CSX Co. (NASDAQ:CSX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,997 shares of the transportation company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the 4th quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new stake in CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in CSX in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX in the fourth quarter valued at approximately $31,000. Finally, Sierra Ocean LLC acquired a new position in shares of CSX in the fourth quarter valued at approximately $33,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $32.23 on Friday. The stock has a market cap of $60.55 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a fifty day moving average price of $29.28 and a two-hundred day moving average price of $31.39. CSX Co. has a one year low of $26.22 and a one year high of $37.10.

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

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio (DPR) is 31.14%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSX. Barclays reduced their price target on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Benchmark reiterated a “buy” rating and issued a $35.00 price target on shares of CSX in a report on Thursday, April 17th. Stifel Nicolaus cut their price objective on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Argus set a $32.00 price objective on shares of CSX in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.95.

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.