SteelPeak Wealth LLC Invests $1.31 Million in CSX Co. (NASDAQ:CSX)

SteelPeak Wealth LLC bought a new position in CSX Co. (NASDAQ:CSX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 40,582 shares of the transportation company's stock, valued at approximately $1,310,000.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of CSX by 33.5% in the second quarter. NewEdge Advisors LLC now owns 105,929 shares of the transportation company's stock worth $3,543,000 after buying an additional 26,610 shares during the last quarter. Advisory Alpha LLC lifted its holdings in CSX by 11.8% in the 2nd quarter. Advisory Alpha LLC now owns 40,147 shares of the transportation company's stock worth $1,343,000 after purchasing an additional 4,223 shares during the last quarter. Cetera Investment Advisers lifted its holdings in CSX by 6.1% in the 2nd quarter. Cetera Investment Advisers now owns 383,749 shares of the transportation company's stock worth $12,836,000 after purchasing an additional 22,081 shares during the last quarter. New Century Financial Group LLC boosted its position in CSX by 44.3% during the second quarter. New Century Financial Group LLC now owns 8,811 shares of the transportation company's stock worth $295,000 after purchasing an additional 2,703 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in CSX by 1.0% during the second quarter. Clearbridge Investments LLC now owns 66,709 shares of the transportation company's stock valued at $2,231,000 after purchasing an additional 683 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CSX shares. Raymond James reaffirmed an "outperform" rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Susquehanna decreased their price target on shares of CSX from $40.00 to $39.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Barclays dropped their price target on CSX from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Finally, TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.58.

CSX Price Performance

NASDAQ CSX traded down $0.12 during trading on Thursday, reaching $32.86. 11,931,025 shares of the company traded hands, compared to its average volume of 15,554,400. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The company has a market cap of $63.37 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 2.06 and a beta of 1.22. The stock's 50 day moving average price is $33.44 and its two-hundred day moving average price is $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.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. As a group, analysts anticipate that CSX Co. will post 1.83 EPS 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.