VELA Investment Management LLC Increases Stake in CSX Co.

VELA Investment Management LLC has significantly increased its investment in shares of CSX Co. (NASDAQ:CSX - Free Report) by 139.8% during the fourth quarter, as per the latest 13F filing with the Securities and Exchange Commission. This institutional investor now holds 80,535 shares of the transportation giant after acquiring an additional 46,950 shares in the process. The value of VELA Investment Management LLC's holdings in CSX stands at approximately $2,599,000 at the close of the reporting period.

Other institutional investors and hedge funds have also altered their positions in CSX recently. For instance, Valley Wealth Managers Inc. boosted its stake in CSX shares by 177.8% during the third quarter and now owns 750 shares valued at $26,000, following the purchase of 480 shares in the last quarter. Similarly, Sierra Ocean LLC established a new position in CSX worth approximately $33,000 in the fourth quarter. Center for Financial Planning Inc. raised its holdings by 205.7% during the fourth quarter, acquiring an additional 720 shares to own a total of 1,070 shares valued at $35,000. Addison Advisors LLC also increased its stake by 348.5% in the third quarter and now owns 1,045 shares worth $36,000. Wingate Wealth Advisors Inc. completed the group by purchasing a new stake in CSX valued at $39,000. In total, institutional investors hold 73.57% of CSX's stock.

Wall Street Analysts Forecast Growth

Recent reports from several research analysts have provided insights into CSX's stock. On January 24th, BMO Capital Markets revised its price target for CSX from $40.00 down to $38.00 while maintaining an "outperform" rating. Citigroup also reduced its target price from $40.00 to $39.00, confirming its "buy" rating. Meanwhile, Jefferies Financial Group upgraded CSX from a "hold" rating to a "buy" rating with a revised price target of $37.00 on January 10th. Barclays updated its price target from $40.00 to $38.00 and maintained its "overweight" designation, while Loop Capital downgraded CSX from a "buy" rating to a "hold" and reduced its target price from $40.00 to $34.00 on February 3rd. In summary, six analysts rated CSX with a hold and thirteen assigned a buy rating, leading to an average rating categorized as "Moderate Buy" and an average price target of $37.16.

CSX Stock Performance

As of last Friday, shares of NASDAQ:CSX opened at $32.01, reflecting a slight increase of 0.1%. The stock has a 50-day moving average of $32.60 and a 200-day moving average of $33.71, paired with a market capitalization of $61.73 billion. The current PE ratio is 17.88 with a price-to-earnings-growth ratio of 1.92, while the stock has a beta of 1.23. Over the past twelve months, CSX has recorded a low of $31.43 and a high of $38.61. Financial ratios include a current ratio of 0.86, a quick ratio of 1.23, and a debt-to-equity ratio of 1.43.

Quarterly Earnings and Dividend Announcement

CSX conducted its quarterly earnings report on January 23rd, during which the company announced earnings of $0.42 per share, falling short of analysts' expectations of $0.44 by $0.02. The return on equity reported was 28.15%, alongside a net margin of 23.95%. Analysts forecast CSX to achieve an EPS of 1.83 for the current year. Additionally, CSX announced a forthcoming quarterly dividend set for payment on March 14th. Shareholders registered by February 28th will receive a $0.13 dividend, increasing from the previous dividend of $0.12, resulting in an annualized dividend of $0.52 and a yield of 1.62%. With a current dividend payout ratio of 29.05%, the company displays a commitment to returning value to shareholders.

About CSX Corporation

CSX Corporation offers rail-based freight transportation services alongside a range of logistics solutions. The company operates rail services and facilitates transportation of intermodal containers and trailers, while also providing bulk commodity operations and rail-to-truck transfers. Its logistics are essential for transporting various goods including chemicals, agricultural products, automotive materials, and coal, contributing significantly to power generation and manufacturing industries.

Investment, Shares, Earnings