CSX Co. (NASDAQ:CSX) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its position in CSX Co. (NASDAQ:CSX) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,921,778 shares of the transportation company’s stock after selling 113,797 shares during the quarter. CSX comprises approximately 1.8% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 13th largest position. Manning & Napier Advisors LLC’s holdings in CSX were worth $158,826,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. grew its holdings in CSX by 177.8% in the 3rd 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 purchased a new stake in CSX in the 3rd quarter valued at $31,000. Addison Advisors LLC grew its holdings in shares of CSX by 348.5% during the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC grew its holdings in shares of CSX by 43.4% during the 3rd 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 during the period. Finally, Jamison Private Wealth Management Inc. grew its holdings in shares of CSX by 33.7% during the 3rd 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 during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CSX shares. Evercore ISI lowered 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. Royal Bank of Canada lowered their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets lowered their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Robert W. Baird lowered their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.58.

CSX Stock Performance

Shares of CSX stock traded up $0.48 during midday trading on Wednesday, hitting $33.16. The company had a trading volume of 2,891,672 shares, compared to its average volume of 14,939,511. The company’s 50 day simple moving average is $33.47 and its 200 day simple moving average is $33.95. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The stock has a market cap of $63.95 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.06 and a beta of 1.22. 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 (NASDAQ:CSX) last posted its quarterly earnings results 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 24.77% and a return on equity of 28.92%. Research analysts anticipate that CSX Co. will post 1.83 earnings per share 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.