CSX Co. (NASDAQ:CSX) Sees Large Drop in Short Interest

CSX Co. (NASDAQ:CSX - Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 25,710,000 shares, a drop of 12.6% from the January 31st total of 29,430,000 shares. Based on an average trading volume of 12,760,000 shares, the short-interest ratio is presently 2.0 days.

CSX Stock Up 1.1 %

CSX stock traded up $0.33 on Friday, hitting $31.26. 19,422,389 shares of the company's stock were exchanged, compared to its average volume of 11,630,004. CSX has a 12-month low of $30.55 and a 12-month high of $38.35. The firm has a 50 day moving average price of $32.48 and a two-hundred day moving average price of $33.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market cap of $59.23 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts expect that CSX will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.66%. This is an increase from CSX's previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX's payout ratio is 29.05%.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSX. Farther Finance Advisors LLC grew its stake in CSX by 11.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,254 shares of the transportation company's stock valued at $285,000 after purchasing an additional 842 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in CSX by 18.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 355,061 shares of the transportation company's stock valued at $12,260,000 after purchasing an additional 56,163 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in CSX by 31.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,522 shares of the transportation company's stock valued at $87,000 after purchasing an additional 606 shares during the last quarter. Catalina Capital Group LLC grew its stake in CSX by 12.0% during the 3rd quarter. Catalina Capital Group LLC now owns 6,925 shares of the transportation company's stock valued at $239,000 after purchasing an additional 741 shares during the last quarter. Finally, Foster & Motley Inc. grew its stake in CSX by 85.5% during the 3rd quarter. Foster & Motley Inc. now owns 41,823 shares of the transportation company's stock valued at $1,444,000 after purchasing an additional 19,280 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Benchmark reissued a "buy" rating and set a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Barclays decreased their target price on CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. BMO Capital Markets decreased their target price on CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised CSX from a "hold" rating to a "buy" rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.00.

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.