New Century Financial Group LLC Lowers Stock Position in CSX Co. (NASDAQ:CSX)

New Century Financial Group LLC trimmed its stake in CSX Co. (NASDAQ:CSX) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,665 shares of the transportation company’s stock after selling 1,086 shares during the period. New Century Financial Group LLC’s holdings in CSX were worth $313,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Valley Wealth Managers Inc. grew its holdings in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the third quarter worth about $31,000. Addison Advisors LLC increased its holdings in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of CSX by 43.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 336 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in CSX by 33.7% in 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 in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX stock opened at $32.69 on Friday. The firm has a market cap of $63.04 billion, a PE ratio of 17.58, a P/E/G ratio of 2.06 and a beta of 1.22. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The business has a 50-day moving average price of $33.58 and a 200 day moving average price of $33.95.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday. BMO Capital Markets reduced their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday. Loop Capital dropped their price target on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday. Finally, Raymond James reiterated an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.68.

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.