SteelPeak Wealth LLC Takes $1.31 Million Position in CSX Co. (NASDAQ:CSX)

SteelPeak Wealth LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,582 shares of the transportation company’s stock, valued at approximately $1,310,000.

Several other hedge funds have also recently bought and sold shares of CSX. Avior Wealth Management LLC boosted its position in shares of CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 293 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in CSX by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after buying an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after buying an additional 309 shares during the last quarter. Finally, Associated Banc Corp increased its holdings in shares of CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.9 %

Shares of CSX stock opened at $32.98 on Thursday. The stock’s 50 day simple moving average is $33.47 and its 200 day simple moving average is $33.95. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company has a market capitalization of $63.60 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.06 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CSX. Loop Capital cut their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Benchmark reissued a “buy” rating and issued a $38.00 price objective on shares of CSX in a research note on Monday. Royal Bank of Canada dropped their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. decreased 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $37.58.

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.