Assenagon Asset Management S.A. Sells 1,026,350 Shares of CSX Co. (NASDAQ:CSX)

Assenagon Asset Management S.A. decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,244,616 shares of the transportation company’s stock after selling 1,026,350 shares during the quarter. Assenagon Asset Management S.A. owned about 0.12% of CSX worth $72,434,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of CSX by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 2,603,301 shares of the transportation company’s stock valued at $87,080,000 after buying an additional 59,033 shares during the period. WINTON GROUP Ltd raised its holdings in CSX by 90.7% in the 2nd quarter. WINTON GROUP Ltd now owns 21,016 shares of the transportation company’s stock valued at $703,000 after acquiring an additional 9,995 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of CSX by 38.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 25,998 shares of the transportation company’s stock worth $870,000 after acquiring an additional 7,158 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of CSX by 23.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,600 shares of the transportation company’s stock worth $94,048,000 after purchasing an additional 538,484 shares in the last quarter. Finally, One Capital Management LLC bought a new stake in shares of CSX during the second quarter valued at approximately $637,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CSX shares. Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Stephens lowered their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Citigroup raised their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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 note on Thursday, October 17th. Finally, Stifel Nicolaus cut their target price on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. 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, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $32.46 on Thursday. The stock has a market capitalization of $62.60 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.21 and a beta of 1.20. 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 Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The business has a 50-day moving average price of $34.03 and a two-hundred day moving average price of $33.98.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts predict that CSX Co. will post 1.84 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.