Gibraltar Capital Management Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Gibraltar Capital Management reduced its stake in CSX Corporation by 1.54% during the most recent quarter end. The investment management company now holds a total of 151,174 shares of CSX Corporation which is valued at $4,263,107 after selling 2,364 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.CSX Corporation makes up approximately 4.96% of Gibraltar Capital Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in CSX by selling 60,745 shares or 2.83% in the most recent quarter. The Hedge Fund company now holds 2,082,198 shares of CSX which is valued at $58,717,984. CSX Corporation makes up approx 0.12% of California State Teachers Retirement System’s portfolio.Markston International reduced its stake in CSX by selling 9,867 shares or 3.44% in the most recent quarter. The Hedge Fund company now holds 277,350 shares of CSX which is valued at $7,824,044. CSX Corporation makes up approx 0.71% of Markston International’s portfolio. Artemis Investment Management Llp sold out all of its stake in CSX during the most recent quarter. The investment firm sold 190,000 shares of CSX which is valued $5,359,900.Meeder Asset Management Inc boosted its stake in CSX in the latest quarter, The investment management firm added 2,946 additional shares and now holds a total of 20,583 shares of CSX Corporation which is valued at $586,204. CSX Corporation makes up approx 0.05% of Meeder Asset Management Inc’s portfolio.

CSX Corporation closed down -0.15 points or -0.53% at $28.05 with 38,99,856 shares getting traded on Thursday. Post opening the session at $28.01, the shares hit an intraday low of $27.9 and an intraday high of $28.19 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.

Investors should note that on Jul 13, 2016, CSX Corporation announced a cash dividend of $0.1800. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

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.

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.