Brevan Howard Capital Management LP Trims Stock Holdings in CSX Co. (NASDAQ:CSX)

Brevan Howard Capital Management LP cut its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 89.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,718 shares of the transportation company's stock after selling 133,836 shares during the period. Brevan Howard Capital Management LP's holdings in CSX were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CSX. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the 4th quarter worth about $27,000. Accredited Wealth Management LLC acquired a new position in CSX during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in CSX in the fourth quarter worth approximately $31,000. Sierra Ocean LLC acquired a new stake in CSX in the fourth quarter valued at approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of CSX by 219.0% during 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 acquiring an additional 714 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSX has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and issued a $35.00 price objective on shares of CSX in a research note on Thursday, April 17th. Wells Fargo & Company decreased their target price on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Evercore ISI lowered their target price 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. Finally, UBS Group cut their price target on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and an average target price of $33.90.

CSX Stock Performance

CSX traded up $0.23 during midday trading on Tuesday, reaching $30.54. The company had a trading volume of 16,825,175 shares, compared to its average volume of 12,783,687. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The business has a 50-day moving average price of $28.77 and a two-hundred day moving average price of $31.82. The stock has a market cap of $57.37 billion, a PE ratio of 17.06, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly 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). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. On average, sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.70%. CSX's payout ratio is 31.14%.

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.