Quarry LP Buys 3,099 Shares of CSX Corporation $CSX

Quarry LP grew its stake in shares of CSX Corporation (NASDAQ:CSX) by 70.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 7,524 shares of the transportation company’s stock after acquiring an additional 3,099 shares during the period. Quarry LP’s holdings in CSX were worth $221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of CSX by 21.6% during the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock valued at $835,336,000 after acquiring an additional 5,033,743 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of CSX by 12.5% during the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock valued at $690,359,000 after buying an additional 2,599,518 shares during the last quarter. Northern Trust Corp boosted its position in shares of CSX by 4.6% during the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company’s stock valued at $649,442,000 after buying an additional 969,567 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of CSX by 3.5% during the fourth quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company’s stock valued at $681,696,000 after buying an additional 707,934 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of CSX by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company’s stock valued at $551,540,000 after buying an additional 1,856,322 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CSX. BMO Capital Markets cut CSX from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a research report on Monday, August 18th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Raymond James Financial increased their price objective on CSX from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Wells Fargo & Company increased their price objective on CSX from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on CSX from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Trading Down 0.5%

Shares of NASDAQ:CSX opened at $32.51 on Tuesday. The stock has a market capitalization of $60.61 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.43 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock’s 50-day simple moving average is $34.37 and its two-hundred day simple moving average is $31.64. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. Analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s dividend payout ratio (DPR) is presently 32.10%.

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.