Cornerstone Investment Partners LLC Has $2.06 Million Stock Position in CSX Co. (NASDAQ:CSX)

Cornerstone Investment Partners LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,941 shares of the transportation company’s stock after selling 8,968 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in CSX were worth $2,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. lifted its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new position in CSX in the fourth quarter valued at approximately $33,000. Addison Advisors LLC lifted its stake in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares during the period. Finally, Center for Financial Planning Inc. lifted its stake in CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the topic of several recent analyst reports. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Susquehanna dropped their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. BMO Capital Markets dropped their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, Stephens restated an “overweight” rating and set a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Trading Down 0.2 %

Shares of CSX stock opened at $31.93 on Tuesday. The stock has a fifty day simple moving average of $32.59 and a 200 day simple moving average of $33.69. CSX Co. has a 12-month low of $31.43 and a 12-month high of $38.61. The company has a market capitalization of $61.57 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.