Sovereign Financial Group Inc. Cuts Position in CSX Co. (NASDAQ:CSX)

Sovereign Financial Group Inc. lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,568 shares of the transportation company’s stock after selling 2,642 shares during the period. Sovereign Financial Group Inc.’s holdings in CSX were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CSX. 180 Wealth Advisors LLC boosted its position in shares of CSX by 43.1% in the 4th quarter. 180 Wealth Advisors LLC now owns 15,389 shares of the transportation company’s stock worth $497,000 after buying an additional 4,637 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in CSX by 5.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 7,248 shares of the transportation company’s stock valued at $234,000 after buying an additional 357 shares during the last quarter. Greenfield Savings Bank increased its position in CSX by 66.7% during the fourth quarter. Greenfield Savings Bank now owns 10,495 shares of the transportation company’s stock worth $339,000 after buying an additional 4,198 shares in the last quarter. AAFMAA Wealth Management & Trust LLC raised its holdings in shares of CSX by 3.3% in the fourth quarter. AAFMAA Wealth Management & Trust LLC now owns 64,278 shares of the transportation company’s stock worth $2,074,000 after acquiring an additional 2,055 shares during the last quarter. Finally, Cullen Investment Group LTD. lifted its position in shares of CSX by 1.4% in the fourth quarter. Cullen Investment Group LTD. now owns 37,005 shares of the transportation company’s stock valued at $1,194,000 after acquiring an additional 518 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent research reports. Stephens dropped their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Loop Capital lowered their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Citigroup upped their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Barclays lifted their target price on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets reduced their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.67.

CSX Stock Up 0.8 %

Shares of CSX stock opened at $32.14 on Wednesday. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The stock has a market cap of $61.98 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a fifty day moving average price of $34.03 and a 200 day moving average price of $33.98.

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