Novare Capital Management LLC Acquires New Stake in CSX Co. (NASDAQ:CSX)

Novare Capital Management LLC bought a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 267,988 shares of the transportation company's stock, valued at approximately $8,648,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company's stock worth $2,840,117,000 after purchasing an additional 455,258 shares during the period. Geode Capital Management LLC raised its stake in CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company's stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC raised its stake in CSX by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company's stock worth $851,404,000 after acquiring an additional 857,302 shares during the period. FMR LLC raised its stake in 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 acquiring an additional 1,447,651 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in CSX by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company's stock worth $440,118,000 after acquiring an additional 737,221 shares during the period. Institutional investors own 73.57% of the company's stock.

CSX Stock Performance

NASDAQ:CSX traded down $0.98 during trading hours on Friday, reaching $32.69. The company had a trading volume of 25,129,362 shares, compared to its average volume of 11,100,801. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The firm has a market cap of $63.04 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The business's 50 day moving average price is $33.53 and its 200-day moving average price is $33.95. 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 announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on CSX. TD Cowen cut their target price on shares of CSX from $36.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Barclays dropped their price objective on shares of CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday. Jefferies Financial Group raised shares of CSX from a "hold" rating to a "buy" rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Raymond James reaffirmed an "outperform" rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday. 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 research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.68.

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.