Traynor Capital Management Inc. Cuts Holdings in CSX Co. (NASDAQ:CSX)

Traynor Capital Management Inc. decreased its holdings in CSX Co. (NASDAQ:CSX) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,403 shares of the transportation company’s stock after selling 5,083 shares during the quarter. Traynor Capital Management Inc.’s holdings in CSX were worth $1,207,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CSX. Perpetual Ltd purchased a new stake in CSX during the fourth quarter valued at approximately $83,301,000. Assenagon Asset Management S.A. lifted its holdings in shares of 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 purchasing an additional 2,489,329 shares during the last quarter. FMR LLC boosted its position in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in CSX by 275.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock worth $62,019,000 after buying an additional 1,360,075 shares during the last quarter. Finally, Marshall Wace LLP increased its position in CSX by 72.2% during the 2nd quarter. Marshall Wace LLP now owns 2,489,986 shares of the transportation company’s stock valued at $83,290,000 after buying an additional 1,043,905 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the subject of several recent analyst reports. Citigroup raised their price target on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Loop Capital dropped their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Friday, January 10th. Finally, Stifel Nicolaus reduced their target price on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.65.

CSX Stock Performance

CSX opened at $33.24 on Thursday. The firm has a fifty day moving average price of $33.69 and a 200 day moving average price of $33.95. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The stock has a market cap of $64.10 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.05 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

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.