Manning & Napier Advisors LLC Sells 113,797 Shares of CSX Co. (NASDAQ:CSX)

Manning & Napier Advisors LLC reduced its position in shares of CSX Co. (NASDAQ:CSX) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,921,778 shares of the transportation company’s stock after selling 113,797 shares during the quarter. CSX accounts for approximately 1.8% of Manning & Napier Advisors LLC’s holdings, making the stock its 13th biggest position. Manning & Napier Advisors LLC owned about 0.26% of CSX worth $158,826,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Valley Wealth Managers Inc. grew its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. Morton Brown Family Wealth LLC purchased a new position in shares of CSX during the 3rd quarter valued at about $31,000. Addison Advisors LLC lifted its position in shares of CSX by 348.5% during the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of CSX by 43.4% during the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of CSX by 33.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after buying an additional 316 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Stephens reissued an “overweight” rating and issued a $38.00 price target on shares of CSX in a report on Friday, January 24th. Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Evercore ISI decreased their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.58.

CSX Stock Up 1.5 %

Shares of CSX stock traded up $0.48 on Wednesday, hitting $33.16. The stock had a trading volume of 2,891,672 shares, compared to its average volume of 14,939,511. 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 business has a 50 day moving average price of $33.47 and a 200 day moving average price of $33.95. The company has a market cap of $63.95 billion, a PE ratio of 17.87, a P/E/G ratio of 2.06 and a beta of 1.22. CSX Co. has a one year low of $31.43 and a one year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Research analysts anticipate that CSX Co. will post 1.83 earnings per share 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.