Cornercap Investment Counsel Inc. Sells 69,745 Shares of CSX Co. (NASDAQ:CSX)

Cornercap Investment Counsel Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 61.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 large investors also recently modified their holdings of the company. Interval Partners LP boosted its stake in shares of CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of CSX during the 2nd quarter worth approximately $116,430,000. M&G Plc acquired a new stake in shares of CSX during the 1st quarter worth approximately $126,089,000. Assenagon Asset Management S.A. increased its stake in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after acquiring an additional 2,489,329 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CSX shares. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus cut their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Evercore ISI lowered their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Barclays increased their price target on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Loop Capital lowered their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

NASDAQ CSX opened at $35.63 on Friday. CSX Co. has a 12-month low of $30.86 and a 12-month 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. The company has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $33.87. The company has a market cap of $68.71 billion, a P/E ratio of 19.16, a PEG ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted 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 firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

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

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.