Boenning & Scattergood Inc. Trims Stake in CSX Co. (NASDAQ:CSX)

Boenning & Scattergood Inc. lowered its holdings in CSX Co. (NASDAQ:CSX) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,523 shares of the transportation company’s stock after selling 440 shares during the period. Boenning & Scattergood Inc.’s holdings in CSX were worth $1,340,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Nuveen Asset Management LLC lifted its stake in shares of CSX by 1,402.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,509,960 shares of the transportation company’s stock worth $735,786,000 after purchasing an additional 8,877,188 shares during the period. Fisher Asset Management LLC grew its holdings in shares of CSX by 28,294.5% during the 3rd quarter. Fisher Asset Management LLC now owns 4,091,077 shares of the transportation company’s stock valued at $283,389,000 after acquiring an additional 4,076,669 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of CSX by 20.5% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 12,895,737 shares of the transportation company’s stock valued at $893,288,000 after acquiring an additional 2,197,670 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of CSX by 405.0% during the 3rd quarter. Voya Investment Management LLC now owns 2,119,838 shares of the transportation company’s stock valued at $146,841,000 after acquiring an additional 1,700,080 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of CSX during the 3rd quarter valued at $79,508,000. Institutional investors own 76.13% of the company’s stock.

CSX traded up $0.17 during mid-day trading on Wednesday, hitting $74.83. The stock had a trading volume of 1,418,355 shares, compared to its average volume of 3,272,576. The stock’s fifty day simple moving average is $72.37 and its 200-day simple moving average is $70.76. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.33. The firm has a market capitalization of $57.39 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. CSX Co. has a 1-year low of $63.14 and a 1-year high of $80.73.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. CSX had a net margin of 27.91% and a return on equity of 27.67%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. As a group, research analysts expect that CSX Co. will post 4.16 earnings per share for the current fiscal year.

In other news, Director Steven T. Halverson sold 39,812 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $71.65, for a total transaction of $2,852,529.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ridge Lp Mantle sold 3,453,894 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the sale, the director now directly owns 8,263 shares of the company’s stock, valued at approximately $561,140.33. The disclosure for this sale can be found here. Company insiders own 4.83% of the company’s stock.

CSX has been the topic of several research analyst reports. Argus set a $82.00 price target on shares of CSX and gave the company a “buy” rating in a report on Friday, October 18th. Morgan Stanley cut their price objective on shares of CSX from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. TD Securities increased their price objective on shares of CSX from $76.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Deutsche Bank lowered shares of CSX from a “buy” rating to a “hold” rating and cut their price objective for the company from $82.00 to $74.00 in a report on Monday, November 11th. Finally, BidaskClub lowered shares of CSX from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company. CSX has a consensus rating of “Hold” and an average target price of $78.00.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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