Latitude Advisors LLC Lowers Stock Position in CSX Co. (NASDAQ:CSX)

Latitude Advisors LLC reduced its position in CSX Co. (NASDAQ:CSX) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,680 shares of the transportation company’s stock after selling 370 shares during the quarter. Latitude Advisors LLC’s holdings in CSX were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of CSX in the 4th quarter valued at $93,000. Essex Financial Services Inc. raised its position in CSX by 4.5% in the fourth quarter. Essex Financial Services Inc. now owns 32,083 shares of the transportation company’s stock valued at $1,035,000 after purchasing an additional 1,375 shares during the period. Sapient Capital LLC lifted its stake in shares of CSX by 1.7% during the fourth quarter. Sapient Capital LLC now owns 36,069 shares of the transportation company’s stock worth $1,164,000 after purchasing an additional 592 shares in the last quarter. Equitable Trust Co. boosted its position in shares of CSX by 1.9% in the fourth quarter. Equitable Trust Co. now owns 169,809 shares of the transportation company’s stock worth $5,480,000 after buying an additional 3,132 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new stake in shares of CSX in the fourth quarter valued at about $205,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Robert W. Baird cut their price objective 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. Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. TD Cowen reduced their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.16.

CSX Price Performance

Shares of CSX opened at $33.08 on Tuesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market cap of $63.79 billion, a P/E ratio of 18.48, a PEG ratio of 1.91 and a beta of 1.23. CSX Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The stock has a fifty day moving average price of $32.94 and a 200 day moving average price of $33.85.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 net margin of 23.95% and a return on equity of 28.15%. On average, research analysts forecast that CSX Co. will post 1.86 earnings per share for the current year.

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.