Adage Capital Partners GP L.L.C. Has $52.17 Million Stake in CSX Co. (NASDAQ:CSX)

Adage Capital Partners GP L.L.C. cut its stake in CSX Co. (NASDAQ:CSX - Free Report) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,616,704 shares of the transportation company's stock after selling 227,936 shares during the period. Adage Capital Partners GP L.L.C. owned 0.08% of CSX worth $52,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in CSX during the fourth quarter worth approximately $33,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of CSX by 219.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after buying an additional 714 shares in the last quarter. Center for Financial Planning Inc. increased its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock valued at $35,000 after buying an additional 720 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of CSX by 216.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company's stock valued at $35,000 after buying an additional 746 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Down 0.9 %

NASDAQ CSX traded down $0.25 on Wednesday, hitting $27.80. 2,454,593 shares of the stock were exchanged, compared to its average volume of 12,658,783. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a market capitalization of $52.22 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company's 50-day moving average price is $29.34 and its two-hundred day moving average price is $32.18.

CSX (NASDAQ:CSX - Get Free Report) last posted its 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). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. This is a positive change from CSX's previous quarterly dividend of $0.12. CSX's dividend payout ratio (DPR) is 31.14%.

Analyst Ratings Changes

Several equities analysts have issued reports on CSX shares. Evercore ISI decreased their price objective on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research report on Friday, March 7th. They issued a "hold" rating and a $34.00 target price on the stock. Stephens reiterated an "overweight" rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group lowered their target price on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.86.

CSX 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.