Bridgewater Associates LP Trims Stock Holdings in CSX Co. (NASDAQ:CSX)

Bridgewater Associates LP reduced its position in CSX Co. (NASDAQ:CSX) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,844 shares of the transportation company’s stock after selling 122,803 shares during the quarter. Bridgewater Associates LP’s holdings in CSX were worth $10,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Guggenheim Capital LLC grew its position in shares of CSX by 3.3% during the fourth quarter. Guggenheim Capital LLC now owns 565,189 shares of the transportation company’s stock worth $18,239,000 after purchasing an additional 18,114 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in CSX during the fourth quarter valued at $3,387,000. Canada Post Corp Registered Pension Plan bought a new position in CSX during the fourth quarter valued at $2,592,000. Value Partners Investments Inc. grew its stake in shares of CSX by 3.0% in the 4th quarter. Value Partners Investments Inc. now owns 60,027 shares of the transportation company’s stock worth $1,937,000 after buying an additional 1,770 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in CSX during the fourth quarter worth approximately $1,501,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 2.0 %

Shares of CSX stock opened at $27.35 on Thursday. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The stock’s 50-day simple moving average is $30.29 and its 200-day simple moving average is $32.60. 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 firm has a market capitalization of $51.55 billion, a PE ratio of 15.28, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CSX shares. Wells Fargo & Company cut their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada dropped their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Susquehanna dropped their target price on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday, March 27th. Benchmark restated a “buy” rating and set a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Finally, UBS Group cut their price objective on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.55.

About CSX

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.