Carnegie Investment Counsel Purchases 8,474 Shares of CSX Co. (NASDAQ:CSX)

Carnegie Investment Counsel increased its position in shares of CSX Co. (NASDAQ:CSX) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 612,051 shares of the transportation company’s stock after purchasing an additional 8,474 shares during the quarter. Carnegie Investment Counsel’s holdings in CSX were worth $19,751,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CSX. Itau Unibanco Holding S.A. acquired a new position in CSX in the second quarter worth $26,000. Valley Wealth Managers Inc. raised its holdings in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in CSX during the 3rd quarter worth about $31,000. Fairscale Capital LLC bought a new stake in CSX during the 2nd quarter worth about $32,000. Finally, Addison Advisors LLC grew its holdings in CSX by 348.5% during 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. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CSX shares. Stifel Nicolaus reduced their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” 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. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Finally, Citigroup upped their price target on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.71.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $32.97 on Friday. The firm’s 50 day simple moving average is $33.94 and its 200 day simple moving average is $33.97. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The company has a market capitalization of $63.57 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

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.