Wellington Management Group LLP Grows Stock Position in CSX Co. (NASDAQ:CSX)

Wellington Management Group LLP lifted its stake in CSX Co. (NASDAQ:CSX) by 27.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,800 shares of the transportation company’s stock after purchasing an additional 18,043 shares during the period. Wellington Management Group LLP’s holdings in CSX were worth $2,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Bornite Capital Management LP purchased a new position in CSX in the first quarter valued at $14,980,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CSX by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock worth $230,637,000 after buying an additional 347,514 shares during the last quarter. Blair William & Co. IL lifted its holdings in CSX by 12.7% during the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock worth $4,581,000 after buying an additional 13,829 shares during the last quarter. Sei Investments Co. lifted its holdings in CSX by 4.5% during the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock worth $7,361,000 after buying an additional 8,488 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in CSX by 16.8% during the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock worth $2,678,000 after buying an additional 10,276 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $36.84 on Thursday. The stock has a market capitalization of $72.17 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.18. CSX Co. has a 52-week low of $28.73 and a 52-week high of $40.12. The stock’s 50-day moving average price is $36.84 and its 200 day moving average price is $33.76. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts forecast that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a yield of 1.30%. CSX’s payout ratio is presently 26.09%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CSX shares. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a report on Thursday, January 25th. Stifel Nicolaus decreased their price target on CSX from $38.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, January 25th. BMO Capital Markets lifted their price target on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. TD Cowen lifted their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 target price on shares of CSX in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.24.

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.