Two Sigma Investments LP Sells 1,835,275 Shares of CSX Co. (NASDAQ:CSX)

Two Sigma Investments LP decreased its position in shares of CSX Co. (NASDAQ:CSX) by 70.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 786,534 shares of the transportation company’s stock after selling 1,835,275 shares during the period. Two Sigma Investments LP’s holdings in CSX were worth $25,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after buying an additional 15,029 shares during the period. Marshall Financial Group LLC acquired a new position in shares of CSX during the fourth quarter valued at about $1,084,000. Waycross Partners LLC raised its holdings in shares of CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after buying an additional 40,611 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in CSX by 1.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,061,143 shares of the transportation company’s stock worth $34,243,000 after acquiring an additional 20,073 shares during the period. Finally, Verde Servicos Internacionais S.A. raised its position in CSX by 38.4% during the fourth quarter. Verde Servicos Internacionais S.A. now owns 426,348 shares of the transportation company’s stock valued at $13,758,000 after acquiring an additional 118,355 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSX has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Bank of America upped their price objective on shares of CSX from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Royal Bank of Canada dropped their target price on CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 17th. Robert W. Baird reduced their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Raymond James reiterated an “outperform” rating and set a $33.00 price target (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.90.

CSX Stock Down 2.4%

NASDAQ CSX opened at $30.49 on Thursday. The business has a fifty day moving average price of $28.89 and a 200 day moving average price of $31.73. 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 company has a market cap of $57.28 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.92 and a beta of 1.22. CSX Co. has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.71%. CSX’s payout ratio is 31.14%.

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.