Shay Capital LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

Shay Capital LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,500 shares of the transportation company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC raised its stake in shares of CSX by 6.5% in the 4th quarter. SeaCrest Wealth Management LLC now owns 10,892 shares of the transportation company’s stock valued at $351,000 after purchasing an additional 665 shares during the period. Park Avenue Securities LLC raised its stake in shares of CSX by 9.0% in the 4th quarter. Park Avenue Securities LLC now owns 89,933 shares of the transportation company’s stock valued at $2,902,000 after purchasing an additional 7,456 shares during the period. Carnegie Investment Counsel raised its stake in shares of CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the period. Empirical Asset Management LLC raised its stake in shares of CSX by 2.3% in the 4th quarter. Empirical Asset Management LLC now owns 36,360 shares of the transportation company’s stock valued at $1,173,000 after purchasing an additional 825 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of CSX in the 4th quarter valued at about $139,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $31.32 on Friday. The business’s 50 day moving average price is $28.81 and its two-hundred day moving average price is $31.78. The company has a market cap of $58.84 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. 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 Co. has a twelve month low of $26.22 and a twelve month high of $37.10.

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

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s payout ratio is presently 31.14%.

Analysts Set New Price Targets

CSX has been the topic of several recent research reports. Robert W. Baird dropped 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. Evercore ISI lowered their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Citigroup lowered their target price on CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.90.

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.