Waycross Partners LLC Boosts Holdings in CSX Corporation (NASDAQ:CSX)

Waycross Partners LLC lifted its position in CSX Corporation (NASDAQ:CSX) by 23.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 762,696 shares of the transportation company’s stock after purchasing an additional 143,225 shares during the quarter. CSX comprises approximately 2.5% of Waycross Partners LLC’s portfolio, making the stock its 19th largest holding. Waycross Partners LLC’s holdings in CSX were worth $22,446,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after acquiring an additional 15,029 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock worth $368,000 after buying an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC grew its position in CSX by 9.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock valued at $1,141,000 after acquiring an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of CSX by 61.4% during the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock worth $418,000 after acquiring an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $4,869,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSX. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of CSX in a report on Thursday, July 24th. Raymond James Financial lifted their price objective on CSX from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. TD Cowen upgraded CSX from a “hold” rating to a “buy” rating and increased their target price for the company from $32.00 to $45.00 in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on CSX from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets lifted their price target on CSX from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $37.00.

CSX Stock Performance

Shares of CSX opened at $36.01 on Thursday. The company has a 50-day simple moving average of $33.41 and a two-hundred day simple moving average of $31.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The firm has a market capitalization of $67.13 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. CSX Corporation has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. CSX’s payout ratio is 32.10%.

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.