Interval Partners LP Takes $20 Million Position in CSX Co. (NASDAQ:CSX)

Interval Partners LP bought a new stake in CSX Co. (NASDAQ:CSX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 539,407 shares of the transportation company’s stock, valued at approximately $19,996,000.

Other hedge funds also recently modified their holdings of the company. Life Planning Partners Inc purchased a new stake in shares of CSX in the fourth quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of CSX during the first quarter worth $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX during the fourth quarter worth $34,000. Burkett Financial Services LLC purchased a new stake in shares of CSX during the fourth quarter worth $34,000. Finally, Avion Wealth raised its holdings in shares of CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CSX shares. Royal Bank of Canada cut their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Stifel Nicolaus increased their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Sanford C. Bernstein increased their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. UBS Group cut their price objective on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.14.

CSX Stock Performance

Shares of NASDAQ:CSX traded up $0.62 during midday trading on Tuesday, hitting $35.02. The company’s stock had a trading volume of 12,362,126 shares, compared to its average volume of 11,805,835. The stock has a market capitalization of $68.46 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.86 and a beta of 1.20. The stock’s 50 day simple moving average is $33.47 and its 200 day simple moving average is $35.05. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

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.