Kennebec Savings Bank Decreases Holdings in CSX Co. (NASDAQ:CSX)

Kennebec Savings Bank cut its stake in CSX Co. (NASDAQ:CSX) by 52.7% during the 4th quarter, HoldingsChannel reports. The firm owned 917 shares of the transportation company’s stock after selling 1,022 shares during the quarter. Kennebec Savings Bank’s holdings in CSX were worth $29,000 as of its most recent SEC filing.

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

CSX Trading Down 0.4 %

Shares of CSX opened at $32.86 on Friday. The business’s 50-day moving average price is $33.44 and its 200 day moving average price is $33.94. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $63.37 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.90 and a beta of 1.22. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts expect that CSX Co. will post 1.88 earnings per share for the current year.

Wall Street Analyst Weigh In

CSX has been the topic of several analyst reports. Evercore ISI dropped their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Barclays lowered their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.58.

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.