Wedge Capital Management L L P NC Buys New Shares in CSX Co. (NASDAQ:CSX)

Wedge Capital Management L L P NC bought a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 358,486 shares of the transportation company’s stock, valued at approximately $11,568,000.

Several other hedge funds have also recently made changes to their positions in CSX. Interval Partners LP increased its position 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 acquiring an additional 4,579,344 shares during the period. Assenagon Asset Management S.A. grew its position in CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares during the period. Bank of Montreal Can grew its position 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 purchasing an additional 1,884,998 shares during the period. FMR LLC grew its position in 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 purchasing an additional 1,447,651 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in CSX by 275.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock worth $62,019,000 after purchasing an additional 1,360,075 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Down 0.7 %

Shares of CSX stock opened at $32.73 on Friday. The firm has a market capitalization of $63.12 billion, a PE ratio of 17.60, a P/E/G ratio of 1.93 and a beta of 1.22. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The firm’s 50-day moving average price is $33.82 and its 200 day moving average price is $33.95. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CSX. Citigroup increased their price target on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. TD Cowen cut their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Evercore ISI cut their price target on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Stifel Nicolaus cut their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.65.

About CSX

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.