Bridgewater Associates LP Has $15.18 Million Stake in CSX Co. (NASDAQ:CSX)

Bridgewater Associates LP decreased its stake in CSX Co. (NASDAQ:CSX) by 51.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 439,647 shares of the transportation company’s stock after selling 473,499 shares during the quarter. Bridgewater Associates LP’s holdings in CSX were worth $15,181,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in shares of CSX by 581.7% during the 1st quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after purchasing an additional 4,508 shares in the last quarter. Comerica Bank increased its position in CSX by 0.6% during the first quarter. Comerica Bank now owns 424,950 shares of the transportation company’s stock worth $15,753,000 after buying an additional 2,744 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in CSX by 1.6% during the first quarter. Citizens Financial Group Inc. RI now owns 32,823 shares of the transportation company’s stock valued at $1,217,000 after buying an additional 505 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of CSX in the first quarter worth about $431,000. Finally, LRI Investments LLC bought a new stake in shares of CSX during the 1st quarter worth about $220,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent analyst reports. Evercore ISI cut their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. TD Cowen decreased their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company lowered their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Finally, Barclays increased their target price on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Trading Down 0.3 %

CSX stock opened at $36.58 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market cap of $70.54 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19. CSX Co. has a 1-year low of $31.65 and a 1-year high of $40.12. The business’s 50 day moving average is $34.64 and its 200-day moving average is $33.99.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 25.81%.

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.