Avion Wealth Buys 1,761 Shares of CSX Co. (NASDAQ:CSX)

Avion Wealth increased its stake in shares of CSX Co. (NASDAQ:CSX) by 160.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,856 shares of the transportation company’s stock after purchasing an additional 1,761 shares during the quarter. Avion Wealth’s holdings in CSX were worth $92,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. grew its position in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC bought a new position in CSX in the 3rd quarter valued at $31,000. Addison Advisors LLC grew its position in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares during the last quarter. Fortitude Family Office LLC grew its position in CSX by 43.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 336 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in CSX in the 4th quarter valued at $39,000. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Loop Capital cut CSX from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. BMO Capital Markets lowered their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company decreased their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Up 0.1 %

Shares of CSX stock opened at $33.11 on Wednesday. The stock’s 50-day simple moving average is $32.88 and its 200-day simple moving average is $33.85. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a market capitalization of $63.85 billion, a PE ratio of 18.50, a P/E/G ratio of 1.91 and a beta of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts expect that CSX Co. will post 1.86 earnings per share for the current 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.