CSX Co. (NASDAQ:CSX) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 114,220 shares of the transportation company’s stock after selling 4,851 shares during the period. CSX accounts for approximately 0.6% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 11th biggest position. Cornercap Investment Counsel Inc.’s holdings in CSX were worth $3,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSX. MFA Wealth Advisors LLC acquired a new stake in shares of CSX during the 2nd quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the 1st quarter worth $29,000. Strategic Financial Concepts LLC acquired a new stake in CSX in the second quarter worth $33,000. Burkett Financial Services LLC acquired a new stake in CSX in the fourth quarter worth $34,000. Finally, Tortoise Investment Management LLC bought a new stake in CSX in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. Stephens restated an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Susquehanna upped their target price on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Trading Down 0.6 %

Shares of CSX stock opened at $33.30 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a 50-day simple moving average of $33.91 and a 200 day simple moving average of $34.56. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock has a market capitalization of $65.10 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.78 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts expect that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio (DPR) 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.