Novare Capital Management LLC Takes Position in CSX Co. (NASDAQ:CSX)

Novare Capital Management LLC bought a new position in CSX Co. (NASDAQ:CSX) during the 4th quarter, Holdings Channel.com reports. The firm bought 267,988 shares of the transportation company’s stock, valued at approximately $8,648,000.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in shares of CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after buying an additional 455,258 shares during the last quarter. Geode Capital Management LLC lifted its stake in CSX by 0.5% in the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC boosted its holdings in CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares in the last quarter. FMR LLC raised its holdings in CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in CSX by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock worth $440,118,000 after purchasing an additional 737,221 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $32.69 on Friday. The firm has a market cap of $63.04 billion, a P/E ratio of 17.58, a PEG 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 company has a 50 day moving average of $33.53 and a 200 day moving average of $33.94.

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 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%. As a group, research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

CSX has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday. Citigroup decreased their target price on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada dropped their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday. BMO Capital Markets decreased their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday. Finally, Susquehanna lowered their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. 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 has a consensus rating of “Moderate Buy” and an average price target of $37.68.

CSX Company 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.