Voleon Capital Management LP Takes $9.30 Million Position in CSX Co. (NASDAQ:CSX)

Voleon Capital Management LP acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 288,277 shares of the transportation company’s stock, valued at approximately $9,303,000. CSX makes up about 0.7% of Voleon Capital Management LP’s investment portfolio, making the stock its 24th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX in the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new stake in CSX in the fourth quarter valued at approximately $33,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in CSX by 219.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 714 shares in the last quarter. Finally, Center for Financial Planning Inc. boosted its stake in CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX stock opened at $28.05 on Wednesday. The business has a 50 day simple moving average of $29.34 and a two-hundred day simple moving average of $32.18. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10. The stock has a market capitalization of $52.69 billion, a P/E ratio of 15.67, a PEG ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS 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 company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 31.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CSX shares. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Argus set a $32.00 price target on CSX in a research report on Friday. Stifel Nicolaus cut their price objective on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Jefferies Financial Group cut their price objective on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their price objective on CSX from $38.00 to $37.00 and set an “overweight” 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’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $33.86.

CSX 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.