Alpha Omega Wealth Management Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Alpha Omega Wealth Management reduced its stake in CSX Corporation by 29.61% during the most recent quarter end. The investment management company now holds a total of 2,401 shares of CSX Corporation which is valued at $66,100 after selling 1,010 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.CSX Corporation makes up approximately 0.06% of Alpha Omega Wealth Management’s portfolio.

CSX Corporation opened for trading at $27.55 and hit $27.97 on the upside on Wednesday, eventually ending the session at $27.83, with a gain of 0.65% or 0.18 points. The heightened volatility saw the trading volume jump to 65,54,804 shares. Company has a market cap of $26,602 M.

Other Hedge Funds, Including , Carnegie Capital Asset Management boosted its stake in CSX in the latest quarter, The investment management firm added 141,343 additional shares and now holds a total of 261,570 shares of CSX Corporation which is valued at $6,782,510. CSX Corporation makes up approx 1.03% of Carnegie Capital Asset Management’s portfolio.Benjamin F. Edwards Company reduced its stake in CSX by selling 45 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 2,475 shares of CSX which is valued at $64,177. CSX Corporation makes up approx 0.01% of Benjamin F. Edwards Company’s portfolio.Creative Planning reduced its stake in CSX by selling 12,312 shares or 10.63% in the most recent quarter. The Hedge Fund company now holds 103,535 shares of CSX which is valued at $2,539,714. CSX Corporation makes up approx 0.02% of Creative Planning’s portfolio.

On the company’s financial health, CSX Corporation reported $0.37 EPS for the quarter, based on the information available during the earnings call on Apr 12, 2016. Analyst had a consensus estimate of $0.37. The company had revenue of $2618.00 million for the quarter, compared to analysts expectations of $2680.81 million. The company’s revenue was down -13.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on CSX Corporation. Company shares were Reiterated by Cowen on Apr 14, 2016 to “Market Perform”, Firm has raised the Price Target to $ 28 from a previous price target of $25 .CSX Corporation was Downgraded by Morgan Stanley to ” Underweight” on Feb 23, 2016. CSX Corporation was Upgraded by BofA/Merrill to ” Buy” on Feb 22, 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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