Traynor Capital Management Inc. Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Traynor Capital Management Inc. lowered its holdings in shares of CSX Co. (NASDAQ:CSX) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,403 shares of the transportation company’s stock after selling 5,083 shares during the quarter. Traynor Capital Management Inc.’s holdings in CSX were worth $1,207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. grew its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new position in CSX during the 3rd quarter valued at approximately $31,000. Addison Advisors LLC increased its stake in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after acquiring an additional 812 shares during the last quarter. Fortitude Family Office LLC raised 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 acquiring an additional 336 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised 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 acquiring an additional 316 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.1 %

Shares of NASDAQ CSX opened at $33.24 on Thursday. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The firm has a market capitalization of $64.10 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.05 and a beta of 1.22. The stock has a 50 day moving average price of $33.69 and a 200 day moving average price of $33.95. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada decreased their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, BMO Capital Markets lowered their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.65.

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.