Rede Wealth LLC Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Rede Wealth LLC trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,155 shares of the transportation company’s stock after selling 2,086 shares during the quarter. Rede Wealth LLC’s holdings in CSX were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its holdings in shares of CSX by 2.5% in the 3rd 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 boosted its holdings 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 worth $595,000 after buying an additional 306 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings 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 buying an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after buying an additional 309 shares during the last quarter. Finally, Associated Banc Corp raised its stake 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 acquiring an additional 310 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSX. Evercore ISI lowered their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 10th. BMO Capital Markets lowered their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Royal Bank of Canada lowered their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Down 0.5 %

CSX stock opened at $32.59 on Friday. 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 company’s 50 day moving average is $32.94 and its 200 day moving average is $33.84. The stock has a market cap of $62.85 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (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%. Sell-side analysts predict that CSX Co. will post 1.86 EPS for the current fiscal 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.