Financial Strategies Group Inc. Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Financial Strategies Group Inc. decreased its position in shares of CSX Co. (NASDAQ:CSX) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,961 shares of the transportation company’s stock after selling 800 shares during the quarter. Financial Strategies Group Inc.’s holdings in CSX were worth $698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CSX. Resonant Capital Advisors LLC lifted its position in CSX by 8.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 60,505 shares of the transportation company’s stock valued at $1,952,000 after purchasing an additional 4,542 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in CSX during the fourth quarter valued at approximately $501,000. DAVENPORT & Co LLC lifted its position in CSX by 4.9% during the fourth quarter. DAVENPORT & Co LLC now owns 172,183 shares of the transportation company’s stock valued at $5,556,000 after purchasing an additional 8,098 shares during the period. Tritonpoint Wealth LLC lifted its position in CSX by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 20,935 shares of the transportation company’s stock valued at $676,000 after purchasing an additional 391 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in CSX by 4.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 51,667 shares of the transportation company’s stock valued at $1,667,000 after purchasing an additional 2,361 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CSX shares. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $34.00 in a research report on Monday. Robert W. Baird decreased their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Finally, Stifel Nicolaus reduced their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $32.87 on Monday. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The stock has a market capitalization of $63.39 billion, a P/E ratio of 18.36, a PEG ratio of 1.90 and a beta of 1.23. The firm has a fifty day simple moving average of $33.33 and a two-hundred day simple moving average of $33.90. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 return on equity of 28.15% and a net margin of 23.95%. On average, analysts expect that CSX Co. will post 1.88 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.