Headlands Technologies LLC Buys Shares of 308,781 CSX Co. (NASDAQ:CSX)

Headlands Technologies LLC purchased a new position in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 308,781 shares of the transportation company’s stock, valued at approximately $9,964,000. CSX accounts for 1.0% of Headlands Technologies LLC’s portfolio, making the stock its 13th biggest position.

Several other hedge funds have also recently made changes to their positions in CSX. State Street Corp boosted its position in CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after purchasing an additional 455,258 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after buying an additional 726,507 shares during the last quarter. Fisher Asset Management LLC grew 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 buying an additional 299,536 shares during the period. Norges Bank purchased a new stake 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% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the subject of a number of recent research reports. Barclays cut their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday, January 10th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Finally, Citigroup lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

CSX Price Performance

Shares of CSX stock opened at $29.43 on Tuesday. The firm has a market cap of $55.47 billion, a PE ratio of 16.44, a PEG ratio of 1.92 and a beta of 1.25. The stock has a 50 day moving average of $31.68 and a 200 day moving average of $33.17. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

About CSX

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.