AlphaCrest Capital Management LLC Has $1.02 Million Position in CSX Co. (NASDAQ:CSX)

AlphaCrest Capital Management LLC reduced its holdings in shares of CSX Co. (NASDAQ:CSXGet Rating) by 64.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,262 shares of the transportation company’s stock after selling 48,677 shares during the period. AlphaCrest Capital Management LLC’s holdings in CSX were worth $1,021,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CSX. American National Bank lifted its position in shares of CSX by 35.9% in the 1st quarter. American National Bank now owns 1,101 shares of the transportation company’s stock worth $41,000 after purchasing an additional 291 shares during the period. Acorn Wealth Advisors LLC lifted its position in shares of CSX by 1.0% in the 1st quarter. Acorn Wealth Advisors LLC now owns 30,075 shares of the transportation company’s stock worth $1,126,000 after purchasing an additional 305 shares during the period. Tilia Fiduciary Partners Inc. lifted its position in shares of CSX by 7.9% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 4,205 shares of the transportation company’s stock worth $157,000 after purchasing an additional 309 shares during the period. Glassman Wealth Services lifted its position in shares of CSX by 20.5% in the 4th quarter. Glassman Wealth Services now owns 1,833 shares of the transportation company’s stock worth $69,000 after purchasing an additional 312 shares during the period. Finally, Diversified Trust Co increased its stake in shares of CSX by 1.7% in the 1st quarter. Diversified Trust Co now owns 18,921 shares of the transportation company’s stock valued at $709,000 after acquiring an additional 319 shares in the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CSX

In other CSX news, Director John J. Zillmer sold 16,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $32.25, for a total transaction of $516,000.00. Following the sale, the director now directly owns 320,763 shares of the company’s stock, valued at $10,344,606.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSX. Cowen lowered their price objective on shares of CSX from $39.00 to $37.00 in a research note on Thursday, July 21st. Raymond James lowered their price objective on shares of CSX from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, July 8th. StockNews.com upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Saturday, July 30th. Loop Capital upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Thursday, July 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of CSX from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.52.

CSX Price Performance

Shares of NASDAQ:CSX opened at $31.24 on Friday. The company has a market capitalization of $66.89 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. CSX Co. has a fifty-two week low of $27.59 and a fifty-two week high of $38.63. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.01 and a current ratio of 1.16. The company’s 50-day moving average is $31.33 and its 200 day moving average is $32.99.

CSX (NASDAQ:CSXGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The transportation company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.67 billion. CSX had a net margin of 28.24% and a return on equity of 29.07%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts forecast that CSX Co. will post 1.89 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, August 30th. CSX’s dividend payout ratio (DPR) is presently 22.47%.

CSX Profile

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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 transports chemicals, agricultural and food products, automotive, minerals, 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.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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