York Capital Management Global Advisors Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : York Capital Management Global Advisors reduced its stake in CSX Corporation by 6.59% during the most recent quarter end. The investment management company now holds a total of 2,683,014 shares of CSX Corporation which is valued at $75,285,373 after selling 189,263 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.CSX Corporation makes up approximately 1.86% of York Capital Management Global Advisors’s portfolio.

Other Hedge Funds, Including , Absolute Return Capital boosted its stake in CSX in the latest quarter, The investment management firm added 218,793 additional shares and now holds a total of 365,470 shares of CSX Corporation which is valued at $10,255,088. CSX Corporation makes up approx 0.59% of Absolute Return Capital’s portfolio.Woodmont Investment Counsel boosted its stake in CSX in the latest quarter, The investment management firm added 3,348 additional shares and now holds a total of 23,736 shares of CSX Corporation which is valued at $666,032. CSX Corporation makes up approx 0.19% of Woodmont Investment Counsel’s portfolio. Secor Capital Advisors Lp added CSX to its portfolio by purchasing 51,278 company shares during the most recent quarter which is valued at $1,439,886. CSX Corporation makes up approx 0.20% of Secor Capital Advisors Lp’s portfolio.Neuberger Berman Group reduced its stake in CSX by selling 1,937,371 shares or 14.98% in the most recent quarter. The Hedge Fund company now holds 10,997,329 shares of CSX which is valued at $314,853,529. CSX Corporation makes up approx 0.42% of Neuberger Berman Group’s portfolio.

CSX Corporation closed down -0.1 points or -0.35% at $28.18 with 41,22,077 shares getting traded on Thursday. Post opening the session at $28.37, the shares hit an intraday low of $27.93 and an intraday high of $28.38 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

Many Wall Street Analysts have commented on CSX Corporation. CSX Corporation was Downgraded by BB&T Capital Mkts to ” Hold” on Jul 15, 2016. Company shares were Reiterated by Cowen on Jul 15, 2016 to “Market Perform”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .CSX Corporation was Downgraded by Stifel to ” Hold” on Jul 15, 2016.

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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