Sonora Investment Management Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Sonora Investment Management reduced its stake in CSX Corporation by 2.22% during the most recent quarter end. The investment management company now holds a total of 202,480 shares of CSX Corporation which is valued at $6,281,942 after selling 4,595 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.CSX Corporation makes up approximately 3.27% of Sonora Investment Management’s portfolio.

Other Hedge Funds, Including , Jacobs Coca boosted its stake in CSX in the latest quarter, The investment management firm added 992 additional shares and now holds a total of 170,343 shares of CSX Corporation which is valued at $5,251,675. CSX Corporation makes up approx 1.18% of Jacobs Coca’s portfolio.First United Bank Trust boosted its stake in CSX in the latest quarter, The investment management firm added 420 additional shares and now holds a total of 42,198 shares of CSX Corporation which is valued at $1,300,964. CSX Corporation makes up approx 1.08% of First United Bank Trust’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in CSX by selling 5,881 shares or 2.38% in the most recent quarter. The Hedge Fund company now holds 241,545 shares of CSX which is valued at $7,499,972. CSX Corporation makes up approx 0.16% of Exxonmobil Investment Management Inc Tx’s portfolio.Burns J W Co Incny reduced its stake in CSX by selling 248 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 84,354 shares of CSX which is valued at $2,590,511. CSX Corporation makes up approx 0.80% of Burns J W Co Incny’s portfolio.

CSX Corporation closed down -0.125 points or -0.40% at $31.025 with 99,25,996 shares getting traded on Friday. Post opening the session at $31.45, the shares hit an intraday low of $31.01 and an intraday high of $31.73 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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. 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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