CSX Co. (NASDAQ:CSX) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its stake in CSX Co. (NASDAQ:CSX) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,521 shares of the transportation company’s stock after selling 4,703 shares during the quarter. Highland Capital Management LLC’s holdings in CSX were worth $3,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. Valley Wealth Managers Inc. raised its stake in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of CSX in the third quarter valued at approximately $31,000. Addison Advisors LLC lifted 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 buying an additional 812 shares during the period. Fortitude Family Office LLC boosted its position in 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 acquiring an additional 336 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its stake in CSX by 33.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after acquiring an additional 316 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CSX shares. Wells Fargo & Company reduced their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Evercore ISI reduced their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets lowered their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Stifel Nicolaus cut their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, TD Cowen lowered their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.58.

CSX Price Performance

CSX stock opened at $32.98 on Thursday. The firm has a market cap of $63.60 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The stock has a 50-day simple moving average of $33.47 and a 200-day simple moving average of $33.95.

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

CSX Profile

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.