The Adage Capital Partners GP L.L.C. Purchases 393,500 Shares of CSX Corp. (CSX)

The Adage Capital Partners GP L.L.C. Purchases 393,500 Shares of CSX Corp. (CSX)

Adage Capital Partners GP L.L.C. boosted its stake in CSX Corp. (NASDAQ:CSX) by 130.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 694,668 shares of the company’s stock after buying an additional 393,500 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of CSX Corp. worth $21,187,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Independent Portfolio Consultants Inc. boosted its stake in shares of CSX Corp. by 2.1% in the third quarter. Independent Portfolio Consultants Inc. now owns 39,702 shares of the company’s stock valued at $1,211,000 after buying an additional 835 shares during the last quarter. Becker Capital Management Inc. boosted its stake in CSX Corp. by 1.0% in the second quarter. Becker Capital Management Inc. now owns 1,482,364 shares of the company’s stock worth $38,660,000 after buying an additional 14,164 shares in the last quarter. Morgan Stanley boosted its stake in CSX Corp. by 3.2% in the third quarter. Morgan Stanley now owns 3,867,411 shares of the company’s stock worth $117,956,000 after buying an additional 118,895 shares in the last quarter. Community Bank of Raymore boosted its stake in CSX Corp. by 2.5% in the second quarter. Community Bank of Raymore now owns 741,373 shares of the company’s stock worth $19,328,000 after buying an additional 18,400 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in CSX Corp. by 2.8% in the third quarter. GHP Investment Advisors Inc. now owns 71,989 shares of the company’s stock worth $2,196,000 after buying an additional 1,981 shares in the last quarter. 68.98% of the stock is currently owned by institutional investors.

Shares of CSX Corp. (NASDAQ:CSX) opened at 36.88 on Thursday. The company’s 50 day moving average price is $36.86 and its 200 day moving average price is $31.53. CSX Corp. has a 52-week low of $21.64 and a 52-week high of $38.82. The stock has a market cap of $34.48 billion, a PE ratio of 20.40 and a beta of 1.17.

CSX Corp. (NASDAQ:CSX) last announced its earnings results on Tuesday, January 17th. The company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.01. CSX Corp. had a return on equity of 15.14% and a net margin of 15.48%. The business had revenue of $2.86 billion for the quarter. During the same quarter last year, the business posted $0.48 EPS. CSX Corp.’s revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that CSX Corp. will post $2.02 earnings per share for the current year.

CSX has been the topic of a number of recent research reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $32.00 target price on shares of CSX Corp. in a research note on Wednesday, October 26th. Vetr cut CSX Corp. from a “hold” rating to a “sell” rating and set a $33.25 target price on the stock. in a research note on Tuesday, November 15th. Zacks Investment Research cut CSX Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. Barclays PLC reissued an “overweight” rating and issued a $35.00 target price on shares of CSX Corp. in a research note on Saturday, October 15th. Finally, Seaport Global Securities initiated coverage on CSX Corp. in a research note on Wednesday, October 19th. They issued a “neutral” rating and a $31.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. CSX Corp. has an average rating of “Hold” and a consensus target price of $32.18.

In other CSX Corp. news, President Clarence W. Gooden sold 28,587 shares of CSX Corp. stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $36.92, for a total transaction of $1,055,432.04. Following the completion of the sale, the president now owns 56,091 shares of the company’s stock, valued at approximately $2,070,879.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Clarence W. Gooden sold 15,625 shares of CSX Corp. stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $32.00, for a total value of $500,000.00. Following the sale, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $4,094,528. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

CSX Corp. Company Profile

CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Corp. (NASDAQ:CSX).

Related posts

Leave a Comment