Cornercap Investment Counsel Inc. Has $1.38 Million Stake in CSX Co. (NASDAQ:CSX)

Cornercap Investment Counsel Inc. lessened its position in CSX Co. (NASDAQ:CSX) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,726 shares of the transportation company’s stock after selling 1,749 shares during the period. Cornercap Investment Counsel Inc.’s holdings in CSX were worth $1,379,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in CSX in the fourth quarter valued at $780,194,000. Bank of New York Mellon Corp increased its stake in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of CSX in the fourth quarter worth approximately $85,959,000. Finally, Perpetual Ltd bought a new stake in CSX in the fourth quarter valued at approximately $83,301,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Finally, Royal Bank of Canada dropped their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Stock Down 2.7 %

CSX stock opened at $29.11 on Friday. The company has a market capitalization of $54.86 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.10. 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 stock has a fifty day moving average of $31.75 and a 200-day moving average of $33.20.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.79%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

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.