Franklin Street Advisors Inc. NC Makes New Investment in CSX Co. (NASDAQ:CSX)

Franklin Street Advisors Inc. NC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,770 shares of the transportation company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSX. Wealth Enhancement Advisory Services LLC grew its stake in CSX by 1.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 882,838 shares of the transportation company’s stock valued at $30,484,000 after purchasing an additional 15,801 shares during the last quarter. InvesTrust purchased a new stake in CSX in the fourth quarter valued at approximately $579,000. Fulton Bank N.A. boosted its position in CSX by 1.2% in the fourth quarter. Fulton Bank N.A. now owns 30,505 shares of the transportation company’s stock valued at $984,000 after buying an additional 349 shares during the last quarter. Diversified Trust Co increased its holdings in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the period. Finally, Nordea Investment Management AB raised its position in CSX by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 2,342,834 shares of the transportation company’s stock worth $75,603,000 after buying an additional 570,683 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CSX shares. Citigroup increased their price objective 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. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday. Loop Capital reduced their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.41 during midday trading on Friday, hitting $31.79. The company’s stock had a trading volume of 4,695,228 shares, compared to its average volume of 12,007,515. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The company has a market cap of $61.30 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The business’s 50 day simple moving average is $34.12 and its 200 day simple moving average is $33.99.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (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 company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the company earned $0.42 earnings per share. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts forecast that CSX Co. will post 1.84 EPS 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.