Highland Capital Management Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Highland Capital Management reduced its stake in CSX Corporation by 1.76% during the most recent quarter end. The investment management company now holds a total of 358,199 shares of CSX Corporation which is valued at $11,157,899 after selling 6,404 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.CSX Corporation makes up approximately 0.96% of Highland Capital Management’s portfolio.

Other Hedge Funds, Including , First Premier Bank boosted its stake in CSX in the latest quarter, The investment management firm added 191 additional shares and now holds a total of 84,236 shares of CSX Corporation which is valued at $2,623,951. CSX Corporation makes up approx 2.01% of First Premier Bank’s portfolio.Capstone Asset Management Co boosted its stake in CSX in the latest quarter, The investment management firm added 3,640 additional shares and now holds a total of 149,540 shares of CSX Corporation which is valued at $4,556,484. CSX Corporation makes up approx 0.13% of Capstone Asset Management Co’s portfolio.Naples Global Advisors boosted its stake in CSX in the latest quarter, The investment management firm added 2,500 additional shares and now holds a total of 26,745 shares of CSX Corporation which is valued at $824,548. CSX Corporation makes up approx 0.32% of Naples Global Advisors’s portfolio.Telemus Capital reduced its stake in CSX by selling 175 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 26,774 shares of CSX which is valued at $822,230. CSX Corporation makes up approx 0.09% of Telemus Capital’s portfolio.

CSX Corporation closed down -0.36 points or -1.17% at $30.47 with 99,00,627 shares getting traded on Tuesday. Post opening the session at $30.81, the shares hit an intraday low of $30.305 and an intraday high of $30.82 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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