Cornerstone Wealth Group LLC Buys New Holdings in CSX Co. (NASDAQ:CSX)

Cornerstone Wealth Group LLC purchased a new position in shares of CSX Co. (NASDAQ:CSX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,870 shares of the transportation company’s stock, valued at approximately $255,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of CSX during the fourth quarter worth $27,000. Life Planning Partners Inc purchased a new position in shares of CSX during the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX in the 1st quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the fourth quarter worth about $34,000. Finally, Burkett Financial Services LLC acquired a new stake in CSX during the fourth quarter worth about $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on CSX shares. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Susquehanna decreased their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. UBS Group cut their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada lowered their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Finally, Bank of America cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.59.

CSX Trading Up 1.3 %

CSX stock traded up $0.42 during trading on Friday, reaching $33.45. 15,864,930 shares of the company were exchanged, compared to its average volume of 11,233,274. The stock’s 50 day simple moving average is $33.46 and its two-hundred day simple moving average is $35.13. The company has a market capitalization of $65.39 billion, a P/E ratio of 18.38, a PEG ratio of 1.73 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts expect that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is presently 26.37%.

CSX 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.