Wedmont Private Capital Decreases Stake in CSX Co. (NASDAQ:CSX)

Wedmont Private Capital lowered its position in CSX Co. (NASDAQ:CSX) by 7.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,509 shares of the transportation company’s stock after selling 1,251 shares during the quarter. Wedmont Private Capital’s holdings in CSX were worth $493,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in CSX by 0.6% during the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after buying an additional 455,258 shares in the last quarter. Geode Capital Management LLC grew its holdings in CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after buying an additional 190,346 shares in the last quarter. Fisher Asset Management LLC grew its holdings in CSX by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after buying an additional 857,302 shares in the last quarter. FMR LLC grew its holdings 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 buying an additional 1,447,651 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CSX by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock valued at $440,118,000 after buying an additional 737,221 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $32.46 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company has a market cap of $62.60 billion, a PE ratio of 17.45, a P/E/G ratio of 2.21 and a beta of 1.20. The business has a 50 day moving average of $34.03 and a 200 day moving average of $33.98. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on CSX shares. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, January 10th. Stephens dropped their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus dropped their target price on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Evercore ISI dropped their target price 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, Susquehanna dropped their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

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.