Essex Financial Services Inc. Buys 1,375 Shares of CSX Co. (NASDAQ:CSX)

Essex Financial Services Inc. raised its stake in CSX Co. (NASDAQ:CSX) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,083 shares of the transportation company’s stock after purchasing an additional 1,375 shares during the quarter. Essex Financial Services Inc.’s holdings in CSX were worth $1,035,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CSX. Valley Wealth Managers Inc. raised its holdings in CSX by 177.8% during the 3rd 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 position in shares of CSX in the third quarter valued at about $31,000. Addison Advisors LLC raised its stake in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of CSX by 43.4% during 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 during the period. Finally, Synergy Asset Management LLC bought a new stake in shares of CSX in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BMO Capital Markets dropped their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Barclays dropped their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. TD Cowen reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Citigroup dropped their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Susquehanna reduced their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Up 0.1 %

Shares of NASDAQ:CSX opened at $33.11 on Wednesday. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The stock has a market capitalization of $63.85 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.91 and a beta of 1.23. The stock has a fifty day simple moving average of $32.88 and a two-hundred day simple moving average of $33.85. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced 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%. On average, research analysts anticipate that CSX Co. will post 1.86 earnings per share for the current fiscal year.

About CSX

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.