Tidal Investments LLC Acquires 3,131 Shares of CSX Co. (NASDAQ:CSX)

Tidal Investments LLC boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 197,891 shares of the transportation company’s stock after acquiring an additional 3,131 shares during the quarter. Tidal Investments LLC’s holdings in CSX were worth $6,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Invesco Ltd. raised its position in CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after acquiring an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC raised its position in CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after acquiring an additional 299,536 shares in the last quarter. Norges Bank bought a new position in CSX during the fourth quarter valued at approximately $780,194,000. Finally, Bank of New York Mellon Corp raised its position in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ:CSX opened at $31.21 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a 50-day moving average of $28.84 and a 200-day moving average of $31.74. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a market capitalization of $58.63 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. CSX’s dividend payout ratio (DPR) is currently 31.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Bank of America lifted their price target on shares of CSX from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Stifel Nicolaus dropped their price target on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Raymond James reissued an “outperform” rating and issued a $33.00 price target (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Finally, Citigroup dropped their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.90.

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.