Atlantic Edge Private Wealth Management LLC Raises Stock Position in CSX Co. (NASDAQ:CSX)

Atlantic Edge Private Wealth Management LLC lifted its position in CSX Co. (NASDAQ:CSX) by 505.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,456 shares of the transportation company’s stock after buying an additional 19,581 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in CSX were worth $757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Perpetual Ltd acquired a new stake in CSX in the 4th quarter worth approximately $83,301,000. Assenagon Asset Management S.A. lifted its stake in CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after acquiring an additional 2,489,329 shares during the period. FMR LLC lifted its stake in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares during the period. KBC Group NV lifted its stake in CSX by 616.4% during the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after acquiring an additional 958,957 shares during the period. Finally, Svenska Handelsbanken AB publ acquired a new stake in CSX during the 3rd quarter valued at approximately $31,018,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. decreased their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company decreased their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Stifel Nicolaus decreased their target price 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. Finally, Royal Bank of Canada cut their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Up 1.5 %

Shares of CSX opened at $33.08 on Tuesday. The stock has a market capitalization of $63.79 billion, a PE ratio of 18.48, a P/E/G ratio of 1.91 and a beta of 1.23. CSX Co. has a 1 year low of $31.43 and a 1 year 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 0.86. The company’s 50-day simple moving average is $32.94 and its 200-day simple moving average is $33.85.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts forecast that CSX Co. will post 1.86 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.