CSX Co. (NASDAQ:CSX) Position Reduced by Latitude Advisors LLC

Latitude Advisors LLC reduced its position in shares of CSX Co. (NASDAQ:CSX) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,680 shares of the transportation company’s stock after selling 370 shares during the period. Latitude Advisors LLC’s holdings in CSX were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Perpetual Ltd bought a new stake in shares of CSX during the 4th quarter worth $83,301,000. Assenagon Asset Management S.A. boosted its position in shares of CSX by 318.5% in 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 period. FMR LLC increased its stake in 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. KBC Group NV raised its holdings in CSX by 616.4% during the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after buying an additional 958,957 shares during the period. Finally, Svenska Handelsbanken AB publ purchased a new stake in CSX during the third quarter valued at about $31,018,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CSX. Citigroup dropped their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Raymond James restated an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Evercore ISI decreased their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, BMO Capital Markets lowered their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Up 1.5 %

Shares of CSX stock opened at $33.08 on Tuesday. The stock has a 50 day moving average price of $32.94 and a two-hundred day moving average price of $33.85. 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 Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The stock has a market capitalization of $63.79 billion, a P/E ratio of 18.48, a PEG ratio of 1.91 and a beta of 1.23.

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

CSX Company 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.