Manning & Napier Advisors LLC Cuts Stake in CSX Co. (NASDAQ:CSX)

Manning & Napier Advisors LLC decreased its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,921,778 shares of the transportation company's stock after selling 113,797 shares during the quarter. CSX makes up about 1.8% of Manning & Napier Advisors LLC's investment portfolio, making the stock its 13th biggest holding. Manning & Napier Advisors LLC owned 0.26% of CSX worth $158,826,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Valley Wealth Managers Inc. lifted its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock worth $26,000 after purchasing an additional 480 shares during the period. Morton Brown Family Wealth LLC acquired a new stake in shares of CSX during the 3rd quarter worth approximately $31,000. Addison Advisors LLC boosted 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 worth $36,000 after acquiring an additional 812 shares in the last quarter. Fortitude Family Office LLC increased its stake in CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company's stock valued at $38,000 after acquiring an additional 336 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. raised its position in CSX by 33.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company's stock valued at $43,000 after purchasing an additional 316 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

CSX has been the subject of several research reports. Raymond James reissued an "outperform" rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Citigroup reduced their price target on CSX from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Royal Bank of Canada dropped their price objective on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company decreased their price target on shares of CSX from $36.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.58.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.12 during trading on Thursday, reaching $32.86. The stock had a trading volume of 11,931,025 shares, compared to its average volume of 15,554,400. The business has a fifty day moving average price of $33.44 and a 200-day moving average price of $33.94. 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 $63.37 billion, a PE ratio of 17.67, a PEG ratio of 2.06 and a beta of 1.22. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 28.92% and a net margin of 24.77%. On average, equities analysts forecast 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.