Everence Capital Management Inc. Sells 6,120 Shares of CSX Co. (NASDAQ:CSX)

Everence Capital Management Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 12.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 44,681 shares of the transportation company’s stock after selling 6,120 shares during the period. Everence Capital Management Inc.’s holdings in CSX were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CSX. Itau Unibanco Holding S.A. bought a new position in CSX in the 2nd quarter worth about $26,000. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX in the third quarter worth about $31,000. Fairscale Capital LLC bought a new position in shares of CSX in the second quarter valued at approximately $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in CSX during the second quarter valued at approximately $33,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSX. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Stephens decreased their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada lowered their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Finally, Loop Capital cut their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Price Performance

CSX opened at $32.34 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $34.25 and its 200 day simple moving average is $34.02. The firm has a market cap of $62.37 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.24 and a beta of 1.20. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its 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). The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. As a group, analysts predict that CSX Co. will post 1.84 earnings per share for the current 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.