GAMMA Investing LLC Trims Stake in CSX Co. (NASDAQ:CSX)

GAMMA Investing LLC lessened its position in CSX Co. (NASDAQ:CSX) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,144 shares of the transportation company’s stock after selling 1,162 shares during the quarter. GAMMA Investing LLC’s holdings in CSX were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after purchasing an additional 293 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after buying an additional 306 shares during the last quarter. Rehmann Capital Advisory Group increased its position in CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares during the last quarter. Finally, Associated Banc Corp boosted its holdings in CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after acquiring an additional 310 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stephens reduced their price target on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company decreased their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Barclays upped 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. Citigroup raised their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets lowered their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Trading Up 0.6 %

CSX stock opened at $32.34 on Friday. The business has a 50-day simple moving average of $34.23 and a two-hundred day simple moving average of $34.02. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company has a market cap of $62.37 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.24 and a beta of 1.22.

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

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.