Gibraltar Capital Management Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Gibraltar Capital Management reduced its stake in CSX Corporation by 0.82% during the most recent quarter end. The investment management company now holds a total of 149,927 shares of CSX Corporation which is valued at $4,622,249 after selling 1,247 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.CSX Corporation makes up approximately 5.30% of Gibraltar Capital Management’s portfolio.

Other Hedge Funds, Including , Jacobs Coca boosted its stake in CSX in the latest quarter, The investment management firm added 992 additional shares and now holds a total of 170,343 shares of CSX Corporation which is valued at $5,251,675. CSX Corporation makes up approx 1.18% of Jacobs Coca’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in CSX by selling 5,881 shares or 2.38% in the most recent quarter. The Hedge Fund company now holds 241,545 shares of CSX which is valued at $7,499,972. CSX Corporation makes up approx 0.16% of Exxonmobil Investment Management Inc Tx’s portfolio.Central Bank Trust Co reduced its stake in CSX by selling 607 shares or 60.34% in the most recent quarter. The Hedge Fund company now holds 399 shares of CSX which is valued at $12,389. Independence Advisors added CSX to its portfolio by purchasing 9,325 company shares during the most recent quarter which is valued at $289,541. CSX Corporation makes up approx 0.14% of Independence Advisors’s portfolio.Independent Portfolio Consultants boosted its stake in CSX in the latest quarter, The investment management firm added 835 additional shares and now holds a total of 39,702 shares of CSX Corporation which is valued at $1,219,248. CSX Corporation makes up approx 0.38% of Independent Portfolio Consultants’s portfolio.

CSX Corporation closed down -0.36 points or -1.17% at $30.47 with 99,00,627 shares getting traded on Tuesday. Post opening the session at $30.81, the shares hit an intraday low of $30.305 and an intraday high of $30.82 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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.

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