Twinbeech Capital LP Lowers Stake in CSX Co. (NASDAQ:CSX)

Twinbeech Capital LP lowered its stake in CSX Co. (NASDAQ:CSX - Free Report) by 94.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,269 shares of the transportation company's stock after selling 380,370 shares during the period. Twinbeech Capital LP's holdings in CSX were worth $686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after buying an additional 726,507 shares during the last quarter. Invesco Ltd. increased its position in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after acquiring an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC raised its holdings in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after acquiring an additional 299,536 shares during the last quarter. Norges Bank purchased a new position in CSX in the 4th quarter worth approximately $780,194,000. Finally, Bank of New York Mellon Corp boosted its stake in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after purchasing an additional 6,730,316 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

CSX has been the subject of several recent analyst reports. Barclays decreased their price target on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets decreased their target price on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Bank of America upped their target price on shares of CSX from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. UBS Group reduced their price target on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Evercore ISI dropped 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.90.

CSX Stock Performance

Shares of CSX stock traded up $0.18 during trading hours on Monday, reaching $30.82. 21,148,953 shares of the company traded hands, compared to its average volume of 12,943,997. The firm has a 50-day moving average price of $28.91 and a 200 day moving average price of $31.62. The company has a market cap of $57.90 billion, a P/E ratio of 17.22, 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 current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last issued 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). The firm had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.69%. CSX's payout ratio is presently 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.