Orca Wealth Management LLC Invests $2.06 Million in CSX Co. (NASDAQ:CSX)

Orca Wealth Management LLC acquired a new stake in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 63,785 shares of the transportation company’s stock, valued at approximately $2,058,000. CSX comprises about 1.9% of Orca Wealth Management LLC’s portfolio, making the stock its 17th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the company. Perpetual Ltd acquired a new stake in CSX in the fourth quarter valued at approximately $83,301,000. Assenagon Asset Management S.A. boosted its position in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after buying an additional 2,489,329 shares in the last quarter. FMR LLC boosted its position in CSX by 10.2% in the third 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. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of CSX by 275.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock worth $62,019,000 after purchasing an additional 1,360,075 shares during the period. Finally, KBC Group NV lifted its holdings in shares of CSX by 616.4% during the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after purchasing an additional 958,957 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 2.9 %

CSX stock opened at $32.68 on Wednesday. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The stock has a market cap of $63.02 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The firm’s 50-day simple moving average is $33.51 and its 200 day simple moving average is $33.96. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSX. TD Cowen cut their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Robert W. Baird cut their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Barclays lowered their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Loop Capital lowered their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.