Princeton Global Asset Management LLC Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Princeton Global Asset Management LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 44.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,696 shares of the transportation company’s stock after selling 1,365 shares during the quarter. Princeton Global Asset Management LLC’s holdings in CSX were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSX. Mirae Asset Global Investments Co. Ltd. boosted its stake in CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares in the last quarter. Diversified Trust Co raised its holdings in CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new position in CSX in the fourth quarter valued at about $1,084,000. Thrivent Financial for Lutherans increased its holdings in CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after buying an additional 24,430 shares in the last quarter. Finally, Carnegie Investment Counsel grew its position in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSX. Barclays decreased their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada reduced their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. TD Cowen cut their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Stephens reiterated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Price Performance

NASDAQ CSX opened at $32.51 on Tuesday. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $62.69 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.90 and a beta of 1.23. The company has a 50-day moving average price of $33.33 and a two-hundred day moving average price of $33.90.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. Analysts forecast that CSX Co. will post 1.88 EPS for the current year.

About CSX

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.