CSX Co. (NASDAQ:CSX) Shares Sold by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,457,257 shares of the transportation company’s stock after selling 35,318 shares during the period. CSX makes up about 3.9% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 20th largest holding. Bristol Gate Capital Partners Inc.’s holdings in CSX were worth $79,296,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Invesco Ltd. raised its holdings in shares of CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after acquiring an additional 299,536 shares during the last quarter. Norges Bank purchased a new stake in CSX during the fourth quarter valued at about $780,194,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CSX by 40.5% in the fourth 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 in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Barclays lowered their target price on CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company lowered their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Finally, Citigroup cut their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CSX Trading Down 2.8 %

Shares of NASDAQ:CSX opened at $27.21 on Monday. The stock has a market cap of $51.28 billion, a PE ratio of 15.20, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $26.95 and a 12-month high of $37.10. The business has a 50 day moving average of $31.32 and a 200-day moving average of $33.02.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 1.91%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

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.