Strategic Financial Concepts LLC Invests $2.94 Million in CSX Co. (NASDAQ:CSX)

Strategic Financial Concepts LLC acquired a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 90,992 shares of the transportation company’s stock, valued at approximately $2,936,000.

Several other hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 purchasing an additional 80,423 shares during the period. Diversified Trust Co raised its position in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new stake in CSX in the 4th quarter valued at approximately $1,084,000. Thrivent Financial for Lutherans boosted its position 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 acquiring an additional 24,430 shares during the last quarter. Finally, Carnegie Investment Counsel grew its stake in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CSX. Stifel Nicolaus reduced their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company lowered their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Trading Down 0.5 %

Shares of CSX stock opened at $32.59 on Monday. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The firm has a 50 day moving average price of $32.94 and a two-hundred day moving average price of $33.85. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $62.85 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23.

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