Carnegie Investment Counsel Purchases 8,474 Shares of CSX Co. (NASDAQ:CSX)

Carnegie Investment Counsel lifted its stake in CSX Co. (NASDAQ:CSX - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612,051 shares of the transportation company's stock after acquiring an additional 8,474 shares during the period. Carnegie Investment Counsel's holdings in CSX were worth $19,751,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in CSX by 23.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,811,600 shares of the transportation company's stock worth $94,048,000 after acquiring an additional 538,484 shares during the period. Renaissance Technologies LLC grew its position in shares of CSX by 12.5% during the 2nd quarter. Renaissance Technologies LLC now owns 894,100 shares of the transportation company's stock valued at $29,908,000 after purchasing an additional 99,600 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of CSX by 2.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 56,317 shares of the transportation company's stock worth $1,884,000 after purchasing an additional 1,546 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of CSX by 15.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 366,626 shares of the transportation company's stock worth $12,272,000 after buying an additional 50,073 shares in the last quarter. Finally, Argent Trust Co boosted its stake in CSX by 4.5% during the second quarter. Argent Trust Co now owns 90,376 shares of the transportation company's stock valued at $3,023,000 after buying an additional 3,856 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CSX shares. Stifel Nicolaus lowered their price target on CSX from $39.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 17th. Stephens cut their price target on shares of CSX from $41.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group raised 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. Finally, Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.65.

CSX Trading Down 0.7 %

Shares of CSX stock traded down $0.24 during midday trading on Friday, reaching $32.73. 20,683,825 shares of the company's stock traded hands, compared to its average volume of 15,156,647. The company has a market cap of $63.12 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The stock has a 50 day moving average of $33.89 and a 200-day moving average of $33.96. CSX Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the firm posted $0.42 EPS. The company's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, 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.