Sonora Investment Management Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Sonora Investment Management reduced its stake in CSX Corporation by 0.52% during the most recent quarter end. The investment management company now holds a total of 213,530 shares of CSX Corporation which is valued at $5,363,874 after selling 1,112 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on May 9, 2016.CSX Corporation makes up approximately 2.74% of Sonora Investment Management’s portfolio.

Other Hedge Funds, Including , Bruderman Asset Management boosted its stake in CSX in the latest quarter, The investment management firm added 9 additional shares and now holds a total of 3,604 shares of CSX Corporation which is valued at $90,532. CSX Corporation makes up approx 0.03% of Bruderman Asset Management’s portfolio.Ngam Advisors boosted its stake in CSX in the latest quarter, The investment management firm added 4,595 additional shares and now holds a total of 56,683 shares of CSX Corporation which is valued at $1,482,827. CSX Corporation makes up approx 0.02% of Ngam Advisors’s portfolio.Aspen Investment Management Inc reduced its stake in CSX by selling 800 shares or 3.27% in the most recent quarter. The Hedge Fund company now holds 23,646 shares of CSX which is valued at $644,826. CSX Corporation makes up approx 0.58% of Aspen Investment Management Inc’s portfolio.

CSX Corporation closed down -0.42 points or -1.64% at $25.12 with 88,20,813 shares getting traded on Friday. Post opening the session at $25.47, the shares hit an intraday low of $24.93 and an intraday high of $25.63 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 $0.37 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.

Leave a Reply

CSX Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on CSX Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.