Assenagon Asset Management S.A. Reduces Holdings in CSX Co. (NASDAQ:CSX)

Assenagon Asset Management S.A. cut its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 31.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,244,616 shares of the transportation company's stock after selling 1,026,350 shares during the period. Assenagon Asset Management S.A. owned about 0.12% of CSX worth $72,434,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Interval Partners LP lifted its position in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company's stock worth $171,222,000 after buying an additional 4,579,344 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company's stock worth $225,917,000 after acquiring an additional 1,884,998 shares during the last quarter. FMR LLC boosted its stake in shares of CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in CSX by 275.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company's stock valued at $62,019,000 after purchasing an additional 1,360,075 shares during the last quarter. Finally, Marshall Wace LLP raised its position in CSX by 72.2% in the 2nd quarter. Marshall Wace LLP now owns 2,489,986 shares of the transportation company's stock worth $83,290,000 after purchasing an additional 1,043,905 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, October 17th. TD Cowen dropped their price objective on CSX from $36.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Loop Capital cut their price objective on CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Citigroup lifted their target price on CSX from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $37.00 price target on the stock in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average target price of $38.67.

CSX Stock Up 1.6 %

NASDAQ CSX traded up $0.51 during midday trading on Thursday, hitting $32.97. 21,672,842 shares of the company traded hands, compared to its average volume of 14,603,862. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The company's 50-day simple moving average is $33.94 and its 200-day simple moving average is $33.97. The company has a market cap of $63.57 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current 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.