Bar Harbor Wealth Management Sells 1,500 Shares of CSX Co. (NASDAQ:CSX)

Bar Harbor Wealth Management decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,333 shares of the transportation company’s stock after selling 1,500 shares during the period. Bar Harbor Wealth Management’s holdings in CSX were worth $2,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Interval Partners LP grew its position in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after acquiring an additional 4,579,344 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares during the last quarter. Wulff Hansen & CO. raised its position in CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after purchasing an additional 2,126,668 shares during the period. Bank of Montreal Can lifted its stake in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares during the last quarter. Finally, FMR LLC boosted its position in CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSX. 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 report on Friday. Stephens dropped their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. TD Cowen decreased their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus dropped their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.67.

CSX Stock Up 0.3 %

NASDAQ CSX traded up $0.11 during trading hours on Monday, reaching $31.89. 12,790,660 shares of the company’s stock traded hands, compared to its average volume of 13,093,653. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a 50-day simple moving average of $34.09 and a 200 day simple moving average of $34.00. The firm has a market cap of $61.50 billion, a PE ratio of 17.15, a PEG ratio of 2.24 and a beta of 1.22.

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