Cornercap Investment Counsel Inc. Has $1.54 Million Stake in CSX Co. (NASDAQ:CSX)

Cornercap Investment Counsel Inc. lowered its stake in CSX Co. (NASDAQ:CSX) by 61.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,475 shares of the transportation company’s stock after selling 69,745 shares during the period. Cornercap Investment Counsel Inc.’s holdings in CSX were worth $1,536,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Western Wealth Management LLC lifted its stake in shares of CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares during the period. TriaGen Wealth Management LLC lifted its position in CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its position in shares of CSX by 33.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after buying an additional 316 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. TD Cowen dropped their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. BMO Capital Markets decreased their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price target 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. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Price Performance

CSX stock opened at $35.63 on Friday. The stock has a market cap of $68.71 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The stock has a 50-day moving average price of $34.26 and a two-hundred day moving average price of $33.87. CSX Co. has a 1 year low of $30.86 and a 1 year high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

About CSX

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.