Cornerstone Advisors LLC Raises Holdings in CSX Co. (NASDAQ:CSX)

Cornerstone Advisors LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,100 shares of the transportation company’s stock after purchasing an additional 3,400 shares during the quarter. Cornerstone Advisors LLC’s holdings in CSX were worth $4,747,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Diversified Trust Co grew its holdings in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares in the last quarter. Marshall Financial Group LLC purchased a new position in shares of CSX during the 4th quarter worth $1,084,000. Thrivent Financial for Lutherans grew its holdings in shares of CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the period. Carnegie Investment Counsel grew its holdings in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Barclays lowered their price target on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Susquehanna decreased their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Loop Capital lowered CSX from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Trading Down 2.0 %

CSX opened at $30.65 on Tuesday. CSX Co. has a one year low of $30.55 and a one year high of $38.35. The company has a market cap of $58.07 billion, a P/E ratio of 17.12, a PEG ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The business’s 50-day simple moving average is $32.45 and its 200-day simple moving average is $33.61.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 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%. As a group, equities research analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 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.