Petredis Investment Advisors LLC Trims Position in CSX Co. (NASDAQ:CSX)

Petredis Investment Advisors LLC reduced its holdings in CSX Co. (NASDAQ:CSX) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,245 shares of the transportation company’s stock after selling 1,446 shares during the period. Petredis Investment Advisors LLC’s holdings in CSX were worth $2,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CX Institutional boosted its position in CSX by 32.4% in the 4th quarter. CX Institutional now owns 18,985 shares of the transportation company’s stock worth $613,000 after purchasing an additional 4,644 shares in the last quarter. McGlone Suttner Wealth Management Inc. boosted its holdings in CSX by 15.6% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 18,725 shares of the transportation company’s stock worth $604,000 after buying an additional 2,526 shares in the last quarter. Brighton Jones LLC grew its position in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after buying an additional 849 shares during the period. Secure Asset Management LLC raised its position in shares of CSX by 2.1% in the fourth quarter. Secure Asset Management LLC now owns 17,195 shares of the transportation company’s stock worth $555,000 after acquiring an additional 357 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of CSX by 9.2% during the 4th quarter. Inspire Investing LLC now owns 37,342 shares of the transportation company’s stock worth $1,205,000 after acquiring an additional 3,147 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSX. TD Cowen reduced their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Raymond James reaffirmed an “outperform” rating and set a $37.00 target price (down from $38.00) on shares of CSX in a research note on Friday. Robert W. Baird dropped their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Finally, Stephens reissued an “overweight” rating and set a $38.00 target price on shares of CSX in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.68.

CSX Trading Down 2.9 %

Shares of CSX opened at $32.69 on Friday. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The firm has a market capitalization of $63.04 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.06 and a beta of 1.22. The firm has a 50-day moving average price of $33.58 and a 200 day moving average price of $33.95. 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 (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Sell-side analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX 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.