Asset Dedication LLC Decreases Stake in CSX Co. (NASDAQ:CSX)

Asset Dedication LLC lowered its holdings in CSX Co. (NASDAQ:CSX) by 19.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,172 shares of the transportation company’s stock after selling 1,231 shares during the quarter. Asset Dedication LLC’s holdings in CSX were worth $167,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. grew its stake in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in CSX in the third quarter valued at approximately $31,000. Addison Advisors LLC raised its stake in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC lifted its position in shares of CSX by 43.4% during the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of CSX by 33.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.9 %

NASDAQ:CSX opened at $32.98 on Thursday. The firm has a market capitalization of $63.60 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.06 and a beta of 1.22. The business has a 50 day simple moving average of $33.47 and a 200 day simple moving average of $33.95. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last released 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 28.92% and a net margin of 24.77%. Equities research analysts predict that CSX Co. will post 1.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSX. Raymond James reaffirmed an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday. Barclays reduced their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Citigroup dropped their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Evercore ISI reduced their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.58.

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.