Swedbank AB Decreases Holdings in CSX Co. (NASDAQ:CSX)

Swedbank AB lowered its position in CSX Co. (NASDAQ:CSX) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 624,985 shares of the transportation company’s stock after selling 4,192 shares during the quarter. Swedbank AB’s holdings in CSX were worth $20,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CSX. Perpetual Ltd acquired a new position in CSX during the fourth quarter worth about $83,301,000. Assenagon Asset Management S.A. raised its position in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares during the last quarter. FMR LLC lifted its stake in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares in the last quarter. KBC Group NV grew its holdings in CSX by 616.4% during the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after buying an additional 958,957 shares during the last quarter. Finally, Svenska Handelsbanken AB publ purchased a new position in CSX during the third quarter worth $31,018,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of analyst reports. Evercore ISI decreased 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. BMO Capital Markets cut their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Benchmark restated a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. JPMorgan Chase & Co. reduced their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Barclays decreased their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.58.

CSX Stock Performance

Shares of CSX stock opened at $32.87 on Friday. The company’s fifty day simple moving average is $33.39 and its 200-day simple moving average 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. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. 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 1.22.

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

About CSX

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.