Perpetual Ltd Buys Shares of 2,581,368 CSX Co. (NASDAQ:CSX)

Perpetual Ltd purchased a new position in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,581,368 shares of the transportation company’s stock, valued at approximately $83,301,000. CSX comprises 1.0% of Perpetual Ltd’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Itau Unibanco Holding S.A. purchased a new position in CSX in the 2nd quarter worth about $26,000. Valley Wealth Managers Inc. grew its stake in shares of 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 period. Morton Brown Family Wealth LLC purchased a new position in shares of CSX during the third quarter valued at approximately $31,000. Fairscale Capital LLC bought a new position in CSX during the second quarter valued at approximately $32,000. Finally, Addison Advisors LLC grew its position in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 0.7 %

Shares of CSX stock opened at $32.73 on Tuesday. The company has a market capitalization of $63.12 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.02 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The company’s fifty day moving average price is $33.82 and its 200-day moving average price is $33.96. CSX Co. has a one year low of $31.43 and a one year high of $40.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSX. Stephens lowered their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets dropped their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Finally, Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.65.

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.