Accurate Wealth Management LLC Grows Position in CSX Co. (NASDAQ:CSX)

Accurate Wealth Management LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 5.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,817 shares of the transportation company’s stock after buying an additional 1,249 shares during the quarter. Accurate Wealth Management LLC’s holdings in CSX were worth $725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in CSX during the 2nd quarter worth approximately $26,000. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new position in CSX during the 3rd quarter worth approximately $31,000. Fairscale Capital LLC purchased a new position in CSX during the 2nd quarter worth approximately $32,000. Finally, Addison Advisors LLC grew its stake in 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 buying an additional 812 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets decreased their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus decreased their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Evercore ISI decreased their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Stephens decreased their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

CSX Stock Performance

Shares of CSX stock opened at $32.46 on Thursday. The stock has a fifty day moving average price of $34.03 and a 200 day moving average price of $33.98. The stock has a market cap of $62.60 billion, a PE ratio of 17.45, a P/E/G ratio of 2.21 and a beta of 1.20. CSX Co. has a 1 year low of $31.43 and a 1 year 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) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. Sell-side analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

About CSX

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.