Board of the Pension Protection Fund Takes $894,000 Position in CSX Co. (NASDAQ:CSX)

Board of the Pension Protection Fund bought a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,700 shares of the transportation company’s stock, valued at approximately $894,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its holdings in shares of CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after buying an additional 293 shares during the last quarter. 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 valued at $595,000 after purchasing an additional 306 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of CSX by 1.3% during the third 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 during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after purchasing an additional 309 shares during the period. Finally, Associated Banc Corp grew its position in CSX by 0.6% in the 3rd 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. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $32.14 on Wednesday. CSX Co. has a one year low of $31.43 and a one year high of $40.12. The stock has a market cap of $61.98 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20. The business’s fifty day moving average price is $34.03 and its two-hundred day moving average price is $33.98. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays upped their price objective on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital lowered their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Susquehanna cut their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup lifted their price target on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada cut their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

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.