Adage Capital Partners GP L.L.C. Sells 227,936 Shares of CSX Co. (NASDAQ:CSX)

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

Several other hedge funds have also recently bought and sold shares of CSX. Wellington Management Group LLP grew its holdings in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after purchasing an additional 15,029 shares during the last quarter. Diversified Trust Co grew its holdings in CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company's stock worth $2,330,000 after acquiring an additional 46,473 shares during the period. Marshall Financial Group LLC bought a new position in CSX during the fourth quarter worth about $1,084,000. Carnegie Investment Counsel raised its holdings in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company's stock worth $19,751,000 after purchasing an additional 8,474 shares during the period. Finally, Waycross Partners LLC increased 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 acquiring an additional 40,611 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock traded up $0.03 during mid-day trading on Monday, reaching $27.87. 12,631,989 shares of the company's stock traded hands, compared to its average volume of 12,703,315. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a 50 day moving average of $29.52 and a two-hundred day moving average of $32.25. The company has a market cap of $52.36 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last announced 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 net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. Equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. CSX's dividend payout ratio (DPR) is currently 31.14%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent research reports. Bank of America reduced their target price on shares of CSX from $33.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Barclays cut their price objective on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Raymond James reaffirmed an "outperform" rating and issued a $33.00 price target (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. Loop Capital lowered CSX from a "buy" rating to a "hold" rating and decreased their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, BMO Capital Markets dropped their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.95.

CSX Company 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.