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

Bridgewater Associates LP lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 51.9% during the third quarter, Holdings Channel reports. The fund owned 439,647 shares of the transportation company’s stock after selling 473,499 shares during the period. Bridgewater Associates LP’s holdings in CSX were worth $15,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Townsquare Capital LLC increased its holdings in shares of CSX by 8.2% in the third quarter. Townsquare Capital LLC now owns 221,010 shares of the transportation company’s stock valued at $7,631,000 after purchasing an additional 16,772 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of CSX during the third quarter valued at $66,000. Partners Group Holding AG lifted its stake in shares of CSX by 67.5% during the third quarter. Partners Group Holding AG now owns 1,218,143 shares of the transportation company’s stock valued at $42,062,000 after acquiring an additional 490,945 shares during the period. D.A. Davidson & CO. increased its position in CSX by 6.1% in the third quarter. D.A. Davidson & CO. now owns 354,895 shares of the transportation company’s stock worth $12,255,000 after purchasing an additional 20,522 shares during the period. Finally, FMR LLC raised its holdings in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Loop Capital dropped their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Finally, BMO Capital Markets reduced their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

Shares of NASDAQ CSX 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 company has a market capitalization 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 12 month low of $31.65 and a 12 month high of $40.12. The stock has a 50 day moving average of $34.64 and a 200-day moving average of $33.99.

CSX (NASDAQ:CSX) last announced its quarterly earnings results 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 net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

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

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.