GAMMA Investing LLC Takes $428,000 Position in CSX Co. (NASDAQ:CSX)

GAMMA Investing LLC purchased a new position in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,980 shares of the transportation company’s stock, valued at approximately $428,000.

Several other institutional investors also recently added to or reduced their stakes in CSX. Park Place Capital Corp lifted its position in shares of CSX by 12.1% during the 3rd quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock valued at $94,000 after buying an additional 330 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in CSX by 89.8% during the third quarter. Meridian Wealth Management LLC now owns 22,956 shares of the transportation company’s stock valued at $706,000 after purchasing an additional 10,862 shares during the last quarter. CreativeOne Wealth LLC boosted its position in CSX by 255.8% during the third quarter. CreativeOne Wealth LLC now owns 74,915 shares of the transportation company’s stock worth $2,304,000 after purchasing an additional 53,857 shares during the period. Private Trust Co. NA increased its stake in shares of CSX by 3.9% in the third quarter. Private Trust Co. NA now owns 31,047 shares of the transportation company’s stock worth $955,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Strategic Blueprint LLC raised its position in shares of CSX by 44.3% in the third quarter. Strategic Blueprint LLC now owns 10,188 shares of the transportation company’s stock valued at $313,000 after purchasing an additional 3,126 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 2.7 %

NASDAQ CSX traded down $0.93 on Wednesday, hitting $33.79. The company’s stock had a trading volume of 13,574,549 shares, compared to its average volume of 12,251,361. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm has a market cap of $66.06 billion, a P/E ratio of 19.08, a PEG ratio of 2.07 and a beta of 1.18. The company’s 50-day simple moving average is $36.79 and its 200 day simple moving average is $34.45.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company posted $0.48 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts predict that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several analyst reports. Royal Bank of Canada cut their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group reduced their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. TD Cowen increased their target price on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.