Carnegie Capital Asset Management buys $10,613,847 stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Carnegie Capital Asset Management scooped up 22,635 additional shares in CSX Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 305,171 shares of CSX Corporation which is valued at $10,613,847.CSX Corporation makes up approximately 1.52% of Carnegie Capital Asset Management’s portfolio.

Other Hedge Funds, Including , York Capital Management Global Advisors reduced its stake in CSX by selling 2,137,828 shares or 79.68% in the most recent quarter. The Hedge Fund company now holds 545,186 shares of CSX which is valued at $18,852,532. CSX Corporation makes up approx 0.77% of York Capital Management Global Advisors’s portfolio.Washington Trust Co reduced its stake in CSX by selling 1,278 shares or 10.66% in the most recent quarter. The Hedge Fund company now holds 10,710 shares of CSX which is valued at $333,402. CSX Corporation makes up approx 0.02% of Washington Trust Co’s portfolio.Texas Permanent School Fund reduced its stake in CSX by selling 18,790 shares or 6.06% in the most recent quarter. The Hedge Fund company now holds 291,333 shares of CSX which is valued at $8,821,563. CSX Corporation makes up approx 0.12% of Texas Permanent School Fund’s portfolio.Cardan Capital Partners reduced its stake in CSX by selling 1,326 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 93,266 shares of CSX which is valued at $2,897,775. CSX Corporation makes up approx 0.66% of Cardan Capital Partners’s portfolio.

CSX Corporation opened for trading at $33.89 and hit $34.14 on the upside on Monday, eventually ending the session at $34, with a gain of 0.12% or 0.04 points. The heightened volatility saw the trading volume jump to 87,19,796 shares. Company has a market cap of $31,846 M.

On the company’s financial health, CSX Corporation reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 13, 2016. Analyst had a consensus of $0.44. The company had revenue of $2670.00 million for the quarter, compared to analysts expectations of $2686.99 million. The company’s revenue was down -12.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Oct 5, 2016, CSX Corporation announced a cash dividend of $0.1800. The company’s management has announced Nov 28, 2016 as the ex-dividend date and fixed the record date on Nov 30, 2016. The payable date has been fixed on Dec 15, 2016.

Many Wall Street Analysts have commented on CSX Corporation. Seaport Global Securities Initiated CSX Corporation on Oct 19, 2016 to “Neutral”, Price Target of the shares are set at $31.Company shares were Reiterated by Cowen on Oct 14, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $30 .

CSX Corporation (CSX) together with its subsidiaries is a transportation company. The Company provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The Company has three lines of business: merchandise business coal business and the intermodal business. The Company’s merchandise business transports aggregates (which include crushed stone sand and gravel) metal phosphate fertilizer food consumer (manufactured goods and appliances) agricultural automotive paper and chemical products. Its coal business transports domestic coal coke and iron ore to electricity-generating power plants steel manufacturers and industrial plants as well as export coal to deep-water port facilities. Through a network of around 50 terminals the intermodal business serves markets east of the Mississippi and transports manufactured consumer goods in containers providing truck-like services for longer shipments.

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