Cullinan Associates Inc. Sells 6,000 Shares of CSX Co. (NASDAQ:CSX)

Cullinan Associates Inc. cut its holdings in CSX Co. (NASDAQ:CSX) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,600 shares of the transportation company’s stock after selling 6,000 shares during the period. Cullinan Associates Inc.’s holdings in CSX were worth $568,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares during the period. Diversified Trust Co increased its position in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 46,473 shares during the period. Marshall Financial Group LLC purchased a new position in shares of CSX during the fourth quarter valued at about $1,084,000. Thrivent Financial for Lutherans increased its position in shares of CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after buying an additional 24,430 shares during the period. Finally, Carnegie Investment Counsel increased its position in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after buying an additional 8,474 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSX. Wells Fargo & Company reduced their price target on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Robert W. Baird reduced their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of 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. Stephens reiterated an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Finally, Citigroup reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Trading Up 1.1 %

Shares of NASDAQ CSX opened at $32.87 on Wednesday. The firm’s 50 day moving average price is $33.25 and its 200-day moving average price is $33.89. The company has a market cap of $63.39 billion, a PE ratio of 18.36, a P/E/G ratio of 1.90 and a beta of 1.23. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts expect that CSX Co. will post 1.88 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.