Pacer Advisors Inc. Sells 56,363 Shares of CSX Co. (NASDAQ:CSX)

Pacer Advisors Inc. cut its stake in CSX Co. (NASDAQ:CSX) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 299,777 shares of the transportation company’s stock after selling 56,363 shares during the period. Pacer Advisors Inc.’s holdings in CSX were worth $9,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after buying an additional 80,423 shares during the last quarter. Diversified Trust Co lifted its stake in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 46,473 shares during the period. Marshall Financial Group LLC acquired a new stake in CSX in the fourth quarter worth about $1,084,000. Thrivent Financial for Lutherans raised its holdings in CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its position in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

NASDAQ:CSX opened at $32.68 on Wednesday. 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 firm has a fifty day simple moving average of $33.51 and a 200 day simple moving average of $33.96. The stock has a market capitalization of $63.02 billion, a PE ratio of 17.57, a P/E/G ratio of 2.06 and a beta of 1.22. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. On average, research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stephens reissued an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Barclays dropped their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Robert W. Baird decreased their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada cut their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Finally, Evercore ISI decreased their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.58.

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.