CSX Co. (NASDAQ:CSX) Shares Sold by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,568 shares of the transportation company’s stock after selling 2,642 shares during the period. Sovereign Financial Group Inc.’s holdings in CSX were worth $1,148,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in shares of CSX during the second quarter worth about $26,000. Valley Wealth Managers Inc. lifted its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in CSX during the 3rd quarter worth approximately $31,000. Fairscale Capital LLC purchased a new stake in shares of CSX in the 2nd quarter valued at approximately $32,000. Finally, Addison Advisors LLC raised its holdings in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 0.8 %

NASDAQ:CSX opened at $32.14 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock’s 50 day simple moving average is $34.03 and its 200-day simple moving average is $33.98. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The firm has a market cap of $61.98 billion, a P/E ratio of 17.28, a PEG ratio of 2.21 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion during 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 firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Equities analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on CSX shares. Stephens lowered their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada lowered their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Evercore ISI dropped their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, January 10th. Finally, Barclays increased their price target on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

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.