Wedge Capital Management L L P NC Makes New $11.57 Million Investment in CSX Co. (NASDAQ:CSX)

Wedge Capital Management L L P NC purchased a new position in shares of CSX Co. (NASDAQ:CSX) in the fourth quarter, Holdings Channel.com reports. The fund purchased 358,486 shares of the transportation company’s stock, valued at approximately $11,568,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tompkins Financial Corp acquired a new stake in shares of CSX during the 4th quarter worth approximately $139,000. Empirical Asset Management LLC increased its holdings in shares of CSX by 2.3% during the 4th quarter. Empirical Asset Management LLC now owns 36,360 shares of the transportation company’s stock worth $1,173,000 after buying an additional 825 shares during the last quarter. Carnegie Investment Counsel increased its holdings in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after buying an additional 8,474 shares during the last quarter. Outlook Wealth Advisors LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $396,000. Finally, ARS Wealth Advisors Group LLC increased its holdings in CSX by 3.6% in the 4th quarter. ARS Wealth Advisors Group LLC now owns 19,944 shares of the transportation company’s stock valued at $644,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CSX. Royal Bank of Canada dropped their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus dropped their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, January 10th. 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, Barclays dropped their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.65.

CSX Price Performance

CSX stock opened at $32.73 on Friday. The stock has a market cap of $63.12 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The company has a fifty day simple moving average of $33.82 and a 200-day simple moving average of $33.95. CSX Co. has a 12-month low of $31.43 and a 12-month high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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). The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. Equities analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

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.