Merit Financial Group LLC Has $828,000 Position in CSX Co. (NASDAQ:CSX)

Merit Financial Group LLC grew its holdings in CSX Co. (NASDAQ:CSX) by 48.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,664 shares of the transportation company’s stock after buying an additional 8,412 shares during the quarter. Merit Financial Group LLC’s holdings in CSX were worth $828,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Butensky & Cohen Financial Security Inc. increased its holdings in shares of CSX by 3.3% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 114,888 shares of the transportation company’s stock valued at $3,707,000 after purchasing an additional 3,621 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of CSX in the 4th quarter valued at $11,568,000. Tompkins Financial Corp bought a new stake in shares of CSX during the fourth quarter worth $139,000. Empirical Asset Management LLC lifted its stake in shares of CSX by 2.3% during the fourth quarter. Empirical Asset Management LLC now owns 36,360 shares of the transportation company’s stock valued at $1,173,000 after acquiring an additional 825 shares during the period. Finally, Carnegie Investment Counsel boosted its holdings in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 1.6 %

Shares of CSX stock opened at $33.27 on Wednesday. The business’s fifty day moving average is $33.74 and its 200 day moving average is $33.95. The company has a market capitalization of $64.16 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSX. Evercore ISI reduced their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Barclays lowered their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Stifel Nicolaus reduced their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, January 10th. Finally, BMO Capital Markets decreased their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.65.

CSX Company Profile

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.