Quantbot Technologies LP Takes $833,000 Position in CSX Corporation $CSX

Quantbot Technologies LP purchased a new position in CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,533 shares of the transportation company’s stock, valued at approximately $833,000.

Several other hedge funds have also recently made changes to their positions in CSX. N.E.W. Advisory Services LLC bought a new position in CSX during the second quarter valued at approximately $27,000. WFA of San Diego LLC bought a new stake in CSX in the 2nd quarter worth approximately $28,000. Arlington Trust Co LLC grew its position in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Wilkerson Advisory Group LLC raised its stake in CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after buying an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in CSX during the 2nd quarter valued at $34,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Argus set a $56.00 price target on CSX in a research note on Friday, July 31st. Stifel Nicolaus set a $54.00 price objective on CSX in a research report on Thursday, July 23rd. Wells Fargo & Company increased their target price on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Finally, Bank of America upped their price target on shares of CSX from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Trading Up 0.5%

Shares of NASDAQ:CSX opened at $51.76 on Thursday. The stock has a 50 day moving average of $49.68 and a 200 day moving average of $45.45. The company has a market cap of $95.88 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts expect that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s dividend payout ratio is 32.37%.

Insider Activity

In other news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 189,708 shares of company stock valued at $9,132,304 over the last 90 days. Company insiders own 0.30% of the company’s stock.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.