Wright Investors Service Inc. Cuts Stake in CSX Co. (NASDAQ:CSX)

Wright Investors Service Inc. decreased its holdings in CSX Co. (NASDAQ:CSX) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,559 shares of the transportation company’s stock after selling 7,408 shares during the period. Wright Investors Service Inc.’s holdings in CSX were worth $1,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Interval Partners LP raised its holdings in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after buying an additional 2,489,329 shares during the last quarter. Wulff Hansen & CO. raised its stake in CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after buying an additional 2,126,668 shares in the last quarter. Bank of Montreal Can lifted its holdings in CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after buying an additional 1,884,998 shares during the last quarter. Finally, FMR LLC boosted its position in shares of CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday. Susquehanna reduced their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. TD Cowen lowered their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company lowered their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Finally, 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. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.67.

CSX Stock Performance

NASDAQ CSX opened at $31.89 on Tuesday. The business has a 50 day moving average price of $34.06 and a 200 day moving average price of $33.99. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The company has a market capitalization of $61.50 billion, a P/E ratio of 17.15, a PEG ratio of 2.24 and a beta of 1.22. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company posted $0.42 earnings per share. CSX’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts expect that CSX Co. will post 1.84 EPS 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.