Cornerstone Advisors LLC Grows Position in CSX Co. (NASDAQ:CSX)

Cornerstone Advisors LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 2.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 147,100 shares of the transportation company’s stock after buying 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 Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in CSX during the 4th quarter worth approximately $31,000. Sierra Ocean LLC purchased a new position in CSX during the 4th quarter worth approximately $33,000. Addison Advisors LLC grew its stake in CSX by 348.5% during the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after buying an additional 812 shares during the last quarter. Finally, Center for Financial Planning Inc. grew its stake in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday. They issued a “hold” rating and a $34.00 target price on the stock. Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Susquehanna lowered 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, Citigroup lowered their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Performance

Shares of CSX stock opened at $30.65 on Tuesday. The stock has a fifty day moving average price of $32.45 and a 200 day moving average price of $33.61. The stock has a market cap of $58.07 billion, a PE ratio of 17.12, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a 1 year low of $30.55 and a 1 year high of $38.35. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX’s payout ratio is 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.