Pines Wealth Management LLC Acquires Shares of 9,772 CSX Co. (NASDAQ:CSX)

Pines Wealth Management LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, HoldingsChannel reports. The fund bought 9,772 shares of the transportation company’s stock, valued at approximately $311,000.

A number of other institutional investors have also modified their holdings of CSX. Avior Wealth Management LLC increased its stake in CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 293 shares during the period. Lake Street Advisors Group LLC increased its position in CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after acquiring an additional 306 shares during the period. Rehmann Capital Advisory Group raised its stake in CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after acquiring an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position 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 worth $1,222,000 after acquiring an additional 309 shares during the period. Finally, Associated Banc Corp grew its stake in shares of 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 purchasing an additional 310 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CSX shares. Evercore ISI decreased their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Citigroup lifted their target price on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Barclays increased their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna lowered their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, TD Cowen cut their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

CSX Trading Up 1.0 %

Shares of CSX opened at $32.46 on Thursday. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $34.03 and a 200-day simple moving average of $33.98. The stock has a market cap of $62.60 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. Equities analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal 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.