InvesTrust Makes New Investment in CSX Co. (NASDAQ:CSX)

InvesTrust bought a new stake in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 18,003 shares of the transportation company’s stock, valued at approximately $579,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Interval Partners LP boosted its stake in shares of CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares during the period. Assenagon Asset Management S.A. increased its holdings in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after buying an additional 2,489,329 shares during the last quarter. Wulff Hansen & CO. lifted its stake in CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares during the last quarter. Bank of Montreal Can lifted its stake in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after acquiring an additional 1,884,998 shares during the last quarter. Finally, FMR LLC increased its position in CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock traded up $0.01 during mid-day trading on Wednesday, reaching $32.20. 4,668,200 shares of the stock were exchanged, compared to its average volume of 12,471,261. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The company has a market cap of $62.10 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The firm has a 50-day simple moving average of $34.18 and a 200 day simple moving average of $34.02. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. On average, sell-side analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Susquehanna lowered their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus cut their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Loop Capital lowered their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Wells Fargo & Company cut their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

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.