CSX Co. (NASDAQ:CSX) Position Cut by Stonegate Investment Group LLC

Stonegate Investment Group LLC lowered its position in shares of CSX Co. (NASDAQ:CSX) by 23.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,068 shares of the transportation company’s stock after selling 3,096 shares during the period. Stonegate Investment Group LLC’s holdings in CSX were worth $325,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CSX. Dark Forest Capital Management LP acquired a new position in CSX during the 2nd quarter worth $221,000. Creative Planning lifted its holdings in CSX by 27.5% in the second quarter. Creative Planning now owns 621,083 shares of the transportation company’s stock worth $20,775,000 after purchasing an additional 134,104 shares during the period. NewEdge Advisors LLC grew its position in CSX by 33.5% in the 2nd quarter. NewEdge Advisors LLC now owns 105,929 shares of the transportation company’s stock valued at $3,543,000 after buying an additional 26,610 shares in the last quarter. Kimelman & Baird LLC acquired a new position in CSX during the 2nd quarter valued at about $271,000. Finally, IMS Capital Management raised its position in shares of CSX by 11.4% during the 2nd quarter. IMS Capital Management now owns 11,201 shares of the transportation company’s stock worth $376,000 after buying an additional 1,150 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Trading Down 2.9 %

NASDAQ:CSX opened at $32.68 on Wednesday. The stock has a market cap of $63.02 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. 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 stock’s 50-day moving average is $33.51 and its two-hundred day moving average is $33.96.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. As a group, equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CSX shares. Loop Capital lowered their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company lowered their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Citigroup cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 target price on shares of CSX in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.58.

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.