Wright Investors Service Inc. Sells 7,408 Shares of CSX Co. (NASDAQ:CSX)

Wright Investors Service Inc. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,559 shares of the transportation company’s stock after selling 7,408 shares during the quarter. Wright Investors Service Inc.’s holdings in CSX were worth $1,890,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSX shares. Barclays lifted their price objective 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. BMO Capital Markets dropped their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Susquehanna reduced their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Stephens dropped their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Stifel Nicolaus cut their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.67.

CSX Stock Up 0.3 %

Shares of CSX opened at $31.89 on Tuesday. The stock has a fifty day simple moving average of $34.06 and a two-hundred day simple moving average of $33.99. 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 capitalization of $61.50 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, equities analysts forecast 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.