CSX Co. (NASDAQ:CSX) Position Reduced by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its position in CSX Co. (NASDAQ:CSX) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,220 shares of the transportation company’s stock after selling 4,851 shares during the quarter. CSX makes up approximately 0.6% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 11th largest position. Cornercap Investment Counsel Inc.’s holdings in CSX were worth $3,821,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. American Century Companies Inc. raised its position in CSX by 14.3% during the second quarter. American Century Companies Inc. now owns 1,716,548 shares of the transportation company’s stock valued at $57,419,000 after buying an additional 214,966 shares during the period. Bahl & Gaynor Inc. boosted its position in CSX by 3.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 42,264 shares of the transportation company’s stock worth $1,414,000 after acquiring an additional 1,507 shares during the period. Marco Investment Management LLC grew its stake in CSX by 1.2% during the 2nd quarter. Marco Investment Management LLC now owns 41,434 shares of the transportation company’s stock valued at $1,386,000 after acquiring an additional 506 shares in the last quarter. AGF Management Ltd. increased its holdings in shares of CSX by 8.8% in the 2nd quarter. AGF Management Ltd. now owns 101,343 shares of the transportation company’s stock valued at $3,390,000 after purchasing an additional 8,211 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of CSX in the second quarter worth approximately $841,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Susquehanna upped their price target on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research note on Wednesday, August 7th. Evercore ISI upgraded CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price target on shares of CSX in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX Trading Down 0.6 %

Shares of CSX stock opened at $33.30 on Thursday. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a market cap of $65.10 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. 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 business’s 50 day moving average is $33.91 and its two-hundred day moving average is $34.56.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS. Equities analysts predict that CSX Co. will post 1.94 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.12 dividend. 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 payout ratio is presently 26.37%.

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.