Pinebridge Investments L.P. grew its holdings in CSX Co. (NASDAQ:CSX) by 179.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 190,650 shares of the transportation company’s stock after acquiring an additional 122,465 shares during the quarter. Pinebridge Investments L.P.’s holdings in CSX were worth $14,751,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Community Bank & Trust Waco Texas lifted its position in CSX by 1.1% during the second quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock worth $953,000 after purchasing an additional 132 shares during the period. Adirondack Trust Co. lifted its position in CSX by 2.2% during the first quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock worth $554,000 after purchasing an additional 150 shares during the period. Contravisory Investment Management Inc. lifted its position in CSX by 20.9% during the second quarter. Contravisory Investment Management Inc. now owns 868 shares of the transportation company’s stock worth $67,000 after purchasing an additional 150 shares during the period. We Are One Seven LLC lifted its position in CSX by 4.4% during the second quarter. We Are One Seven LLC now owns 3,533 shares of the transportation company’s stock worth $273,000 after purchasing an additional 150 shares during the period. Finally, Fulton Bank N.A. lifted its position in CSX by 5.1% during the second quarter. Fulton Bank N.A. now owns 3,305 shares of the transportation company’s stock worth $256,000 after purchasing an additional 161 shares during the period. 75.75% of the stock is owned by institutional investors.

Shares of CSX stock traded up $0.71 on Friday, reaching $72.26. The company had a trading volume of 358,395 shares, compared to its average volume of 4,242,280. The stock has a market capitalization of $57.92 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. CSX Co. has a one year low of $58.47 and a one year high of $80.73. The business’s 50-day moving average is $66.93 and its 200 day moving average is $73.76.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company posted $1.01 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that CSX Co. will post 4.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio is currently 25.00%.

Several research firms recently weighed in on CSX. BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a research report on Thursday. Deutsche Bank cut their price objective on shares of CSX from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Goldman Sachs Group began coverage on shares of CSX in a research report on Wednesday, July 10th. They set a “neutral” rating and a $86.00 price objective for the company. Cascend Securities cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada cut their price objective on shares of CSX to $75.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $78.13.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

Further Reading: How Does the Quiet Period Work?

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.