Apollon Wealth Management LLC Acquires 16,050 Shares of CSX Co. (NASDAQ:CSX)

Apollon Wealth Management LLC lifted its stake in CSX Co. (NASDAQ:CSX) by 30.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,044 shares of the transportation company’s stock after acquiring an additional 16,050 shares during the period. Apollon Wealth Management LLC’s holdings in CSX were worth $2,228,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Valley Wealth Managers Inc. increased its holdings in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the period. Morton Brown Family Wealth LLC bought a new position in shares of CSX in the third quarter worth $31,000. Addison Advisors LLC increased its holdings in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC raised its position in shares of CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock worth $38,000 after buying an additional 336 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in CSX during the fourth quarter valued at $41,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CSX shares. Susquehanna decreased their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Raymond James reissued an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. TD Cowen lowered their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Down 0.5 %

Shares of CSX stock opened at $32.59 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company’s 50 day moving average price is $32.94 and its 200-day moving average price is $33.85. The stock has a market capitalization of $62.85 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities research analysts forecast that CSX Co. will post 1.86 EPS 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.