Pines Wealth Management LLC Makes New $311,000 Investment in CSX Co. (NASDAQ:CSX)

Pines Wealth Management LLC purchased a new position in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,772 shares of the transportation company’s stock, valued at approximately $311,000.

Several other institutional investors have also recently made changes to their positions in CSX. Envestnet Asset Management Inc. grew its holdings in shares of CSX by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,603,301 shares of the transportation company’s stock worth $87,080,000 after purchasing an additional 59,033 shares during the period. WINTON GROUP Ltd increased its position in shares of CSX by 90.7% during the second quarter. WINTON GROUP Ltd now owns 21,016 shares of the transportation company’s stock valued at $703,000 after acquiring an additional 9,995 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of CSX by 38.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 25,998 shares of the transportation company’s stock valued at $870,000 after acquiring an additional 7,158 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of CSX by 23.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,600 shares of the transportation company’s stock valued at $94,048,000 after acquiring an additional 538,484 shares during the period. Finally, One Capital Management LLC acquired a new position in shares of CSX in the 2nd quarter worth approximately $637,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $32.46 on Thursday. The company has a market capitalization of $62.60 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20. 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 stock has a 50 day moving average price of $34.03 and a 200 day moving average price of $33.98.

CSX (NASDAQ:CSX) last issued 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 company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSX. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Citigroup lifted their target price on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI reduced their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Stephens dropped their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price 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.