Mount Vernon Associates Inc. MD Decreases Stock Holdings in CSX Co. (NASDAQ:CSX)

Mount Vernon Associates Inc. MD lessened its stake in CSX Co. (NASDAQ:CSX) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the transportation company’s stock after selling 25,652 shares during the period. CSX makes up approximately 2.5% of Mount Vernon Associates Inc. MD’s holdings, making the stock its 12th largest position. Mount Vernon Associates Inc. MD’s holdings in CSX were worth $3,227,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its position in shares of CSX by 0.6% during the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after acquiring an additional 455,258 shares during the period. Geode Capital Management LLC grew its holdings in CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after purchasing an additional 190,346 shares during the period. Fisher Asset Management LLC grew its holdings in CSX by 3.6% during 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 purchasing an additional 857,302 shares during the period. FMR LLC increased its position in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying 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 stake in shares of CSX by 6.1% in the third 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 buying an additional 737,221 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $32.66 on Wednesday. CSX Co. has a 52-week low of $31.43 and a 52-week 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 firm’s fifty day moving average is $34.03 and its 200 day moving average is $33.98. The company has a market cap of $62.98 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.21 and a beta of 1.20.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CSX shares. Barclays boosted their price objective on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI dropped their price target 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. Wells Fargo & Company decreased their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Susquehanna dropped their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus decreased their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

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.