Assenagon Asset Management S.A. Sells 1,026,350 Shares of CSX Co. (NASDAQ:CSX)

Assenagon Asset Management S.A. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,244,616 shares of the transportation company’s stock after selling 1,026,350 shares during the period. Assenagon Asset Management S.A.’s holdings in CSX were worth $72,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CSX. State Street Corp lifted its stake in CSX by 0.6% in the third 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 raised its holdings in shares of CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC lifted its position in CSX by 3.6% in 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 acquiring an additional 857,302 shares in the last quarter. FMR LLC boosted 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CSX by 6.1% in 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 purchasing an additional 737,221 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 1.0 %

Shares of CSX opened at $32.46 on Thursday. The firm has a market cap of $62.60 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The firm’s 50-day simple moving average is $34.03 and its 200 day simple moving average is $33.98.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Stifel Nicolaus reduced their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Citigroup raised their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets cut their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Evercore ISI decreased their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Royal Bank of Canada cut their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.67.

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.