Headlands Technologies LLC Buys Shares of 25,144 CSX Co. (NASDAQ:CSX)

Headlands Technologies LLC purchased a new stake in shares of CSX Co. (NASDAQ:CSX) in the 2nd quarter, HoldingsChannel reports. The fund purchased 25,144 shares of the transportation company’s stock, valued at approximately $841,000.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. grew its stake in CSX by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock worth $660,000 after buying an additional 798 shares during the last quarter. 9258 Wealth Management LLC boosted its holdings in CSX by 8.0% in the fourth quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock worth $422,000 after acquiring an additional 900 shares in the last quarter. Gryphon Financial Partners LLC grew its stake in shares of CSX by 7.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock worth $693,000 after acquiring an additional 1,422 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of CSX during the fourth quarter valued at about $501,000. Finally, Avantax Advisory Services Inc. raised its position in shares of CSX by 30.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 100,068 shares of the transportation company’s stock valued at $3,469,000 after purchasing an additional 23,085 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Finally, Wells Fargo & Company started coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Trading Down 0.6 %

CSX stock opened at $33.30 on Thursday. The firm has a market cap of $65.10 billion, a PE ratio of 18.30, a P/E/G ratio of 1.78 and a beta of 1.19. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The stock’s 50 day simple moving average is $33.91 and its two-hundred day simple moving average is $34.56. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. CSX’s dividend payout ratio is presently 26.37%.

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.