Riverhead Capital Management LLC Acquires 12,452 Shares of CSX Co. (NASDAQ:CSX)

Riverhead Capital Management LLC grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,414 shares of the transportation company’s stock after buying an additional 12,452 shares during the quarter. Riverhead Capital Management LLC’s holdings in CSX were worth $4,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Virtus ETF Advisers LLC grew its stake in CSX by 117.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Larson Financial Group LLC bought a new position in CSX in the 4th quarter worth about $28,000. Liberty Wealth Management LLC bought a new position in CSX in the 4th quarter worth about $28,000. Karp Capital Management Corp bought a new position in CSX in the 4th quarter worth about $30,000. Finally, Berman Capital Advisors LLC bought a new position in CSX in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Shares of NASDAQ CSX traded down $0.49 during midday trading on Friday, reaching $77.15. The company had a trading volume of 43,671 shares, compared to its average volume of 4,262,623. The stock has a market cap of $62.82 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.33 and a beta of 1.28. CSX Co. has a 1 year low of $58.47 and a 1 year high of $80.73. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 1.27.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.11. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. CSX had a net margin of 27.84% and a return on equity of 26.13%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. As a group, sell-side analysts forecast that CSX Co. will post 4.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.24%. CSX’s dividend payout ratio is currently 25.00%.

In related news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total transaction of $556,500.00. Following the completion of the transaction, the executive vice president now owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Angela C. Williams sold 9,560 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total transaction of $756,578.40. Following the transaction, the vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $1,155,997.98. The disclosure for this sale can be found here. Company insiders own 4.83% of the company’s stock.

CSX has been the topic of a number of recent research reports. Stifel Nicolaus downgraded shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a research note on Wednesday, March 6th. BidaskClub upgraded shares of CSX from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 20th. ValuEngine downgraded shares of CSX from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. UBS Group downgraded shares of CSX from a “buy” rating to a “neutral” rating and raised their target price for the company from $75.00 to $80.00 in a research note on Friday, April 5th. Finally, Credit Suisse Group raised their target price on shares of CSX from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. CSX currently has an average rating of “Hold” and an average target price of $79.41.

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CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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