Aigen Investment Management LP Makes New Investment in CSX Corporation (NASDAQ:CSX)

Aigen Investment Management LP bought a new position in shares of CSX Corporation (NASDAQ:CSX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 124,633 shares of the transportation company’s stock, valued at approximately $3,668,000. CSX comprises approximately 0.6% of Aigen Investment Management LP’s investment portfolio, making the stock its 20th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX in the 4th quarter worth about $27,000. Accredited Wealth Management LLC acquired a new position in CSX in the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX in the fourth quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in CSX in the first quarter valued at $30,000. Finally, Rossby Financial LCC acquired a new stake in CSX in the first quarter valued at $28,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Stifel Nicolaus decreased their price objective on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 14th. Susquehanna restated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a report on Tuesday, June 24th. Robert W. Baird increased their price objective on CSX from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Citigroup increased their price objective on CSX from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, Bank of America upgraded CSX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

CSX Stock Performance

Shares of CSX opened at $35.43 on Friday. 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 stock has a 50-day moving average of $33.56 and a 200-day moving average of $31.46. The company has a market cap of $66.05 billion, a PE ratio of 21.87, a P/E/G ratio of 2.64 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 issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS. On average, equities research analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.5%. CSX’s dividend payout ratio (DPR) is presently 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.