Miracle Mile Advisors LLC Acquires 20,978 Shares of CSX Co. (NASDAQ:CSX)

Miracle Mile Advisors LLC grew its position in CSX Co. (NASDAQ:CSX - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,277 shares of the transportation company's stock after purchasing an additional 20,978 shares during the period. Miracle Mile Advisors LLC's holdings in CSX were worth $4,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Interval Partners LP lifted its stake in shares of 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. Assenagon Asset Management S.A. raised its holdings in CSX by 318.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company's stock worth $112,946,000 after acquiring an additional 2,489,329 shares during the period. Wulff Hansen & CO. lifted its position in shares of CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company's stock worth $73,331,000 after purchasing an additional 2,126,668 shares during the last quarter. Bank of Montreal Can boosted its position in shares of CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company's stock valued at $225,917,000 after acquiring an additional 1,884,998 shares during the period. Finally, FMR LLC grew its position in CSX by 10.2% in 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 last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CSX. Wells Fargo & Company cut their target price on CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price objective 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. Evercore ISI lowered their target price on shares of CSX from $38.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Citigroup raised their price target on shares of CSX from $42.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group upgraded CSX from a "hold" rating to a "buy" rating and set a $37.00 price objective on the stock in a research note on Friday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.67.

CSX Price Performance

Shares of NASDAQ CSX traded up $0.11 during trading on Tuesday, reaching $32.00. The company had a trading volume of 6,897,449 shares, compared to its average volume of 13,015,177. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market cap of $61.71 billion, a PE ratio of 17.20, a PEG ratio of 2.21 and a beta of 1.20. The business's 50 day moving average price is $34.06 and its 200-day moving average price is $33.99. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Analysts expect that CSX Co. will post 1.84 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.