Cullinan Associates Inc. decreased its stake in shares of CSX Co. (NASDAQ:CSX – Free Report) by 25.4% during the fourth quarter, Holdings Channel reports. The firm owned 17,600 shares of the transportation company’s stock after selling 6,000 shares during the quarter. Cullinan Associates Inc.’s holdings in CSX were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. increased its holdings in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX in the third quarter worth $31,000. Addison Advisors LLC increased its stake in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of CSX in the fourth quarter worth $41,000. 73.57% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on CSX shares. Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $34.00 in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.16.
CSX Price Performance
CSX stock opened at $32.87 on Wednesday. The company has a fifty day simple moving average of $33.25 and a two-hundred day simple moving average of $33.89. The firm has a market capitalization of $63.39 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.90 and a beta of 1.23. 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 52 week low of $31.43 and a 52 week high of $40.12.
CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts anticipate that CSX Co. will post 1.88 earnings per share for the current fiscal year.
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.
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