GAMMA Investing LLC Purchases Shares of 11,980 CSX Co. (NASDAQ:CSX)

GAMMA Investing LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,980 shares of the transportation company’s stock, valued at approximately $428,000.

Several other institutional investors and hedge funds have also modified their holdings of CSX. Community Bank & Trust Waco Texas increased its stake in shares of CSX by 13.0% in the 4th quarter. Community Bank & Trust Waco Texas now owns 52,191 shares of the transportation company’s stock valued at $1,809,000 after purchasing an additional 6,007 shares in the last quarter. PDS Planning Inc raised its position in shares of CSX by 26.9% during the 4th quarter. PDS Planning Inc now owns 10,556 shares of the transportation company’s stock worth $366,000 after purchasing an additional 2,235 shares during the last quarter. Sage Mountain Advisors LLC lifted its stake in CSX by 6.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 8,081 shares of the transportation company’s stock valued at $280,000 after buying an additional 490 shares in the last quarter. Jennison Associates LLC boosted its holdings in CSX by 13.0% in the 4th quarter. Jennison Associates LLC now owns 114,675 shares of the transportation company’s stock worth $3,976,000 after buying an additional 13,159 shares during the last quarter. Finally, MCF Advisors LLC boosted its holdings in CSX by 85.4% in the 4th quarter. MCF Advisors LLC now owns 9,999 shares of the transportation company’s stock worth $347,000 after buying an additional 4,606 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 2.7 %

Shares of CSX stock traded down $0.93 during trading hours on Wednesday, hitting $33.79. The company had a trading volume of 13,574,549 shares, compared to its average volume of 12,251,361. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The company’s fifty day moving average is $36.79 and its 200 day moving average is $34.45. The stock has a market capitalization of $66.06 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18.

CSX (NASDAQ:CSX) last released its quarterly 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. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.48 earnings per share. Research analysts expect that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

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

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. BMO Capital Markets upped their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus raised their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. TD Cowen upped their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Susquehanna lifted their price objective on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.