Cornerstone Investment Partners LLC Cuts Stake in CSX Co. by 12.3%

Cornerstone Investment Partners LLC has made adjustments to its stock position in CSX Co. (NASDAQ:CSX), reducing its stake by 12.3% during the fourth quarter. According to their recent filing with the Securities and Exchange Commission (SEC), Cornerstone now holds 63,941 shares of the transportation firm's stock, after selling 8,968 shares throughout the quarter. At the end of this reporting period, the value of Cornerstone's holdings in CSX amounted to approximately $2,063,000.

Institutional Investments in CSX

Other institutional investors have also reevaluated their stakes in CSX. Valley Wealth Managers Inc. increased its holdings by a notable 177.8% during the third quarter, now owning 750 shares worth around $26,000 after adding 480 shares to their position. Similarly, SBI Securities Co. Ltd. purchased a new stake in CSX valued at about $31,000 during the fourth quarter, while Sierra Ocean LLC acquired shares worth approximately $33,000 in the same period. Additionally, Addison Advisors LLC lifted its stake in CSX significantly by 348.5% during the third quarter, bringing its total shares to 1,045, valued at around $36,000 after an increase of 812 shares. Center for Financial Planning Inc. also raised its stake by 205.7% in the fourth quarter, acquiring 1,070 shares valued at $35,000.

Recent Analyst Ratings for CSX

CSX has seen several changes in analyst ratings recently. For instance, Jefferies Financial Group upgraded CSX from a "hold" to a "buy" rating, setting a price target of $37.00 for the stock. Meanwhile, Susquehanna adjusted its price target downward from $40.00 to $39.00, maintaining a "positive" rating. BMO Capital Markets also reduced its target from $40.00 to $38.00, labeling the stock as "outperform." In contrast, Loop Capital downgraded CSX from a "buy" to a "hold" and lowered its price objective from $40.00 to $34.00. On the other hand, Stephens affirmed an "overweight" rating with a target price of $38.00. Currently, six analysts have rated CSX with a hold, while thirteen have given it a buy rating, indicating an overall average rating of "Moderate Buy" and a consensus price target of $37.16.

CSX Stock Performance

Trading data shows that CSX shares opened at $31.93 recently. The stock's fifty-day moving average sits at $32.59, with a 200-day moving average of $33.69. Over the last twelve months, CSX has traded as low as $31.43 and as high as $38.61. The firm has a market capitalization of $61.57 billion, boasting a P/E ratio of 17.84 and a beta value of 1.23. Financial ratios reveal a current ratio of 0.86, a quick ratio of 1.23, and a debt-to-equity ratio of 1.43.

CSX Quarterly Earnings and Dividend Announcement

CSX last reported its quarterly earnings on January 23rd, revealing earnings per share (EPS) of $0.42, which fell short of analysts' expectations of $0.44. The net margin recorded by CSX stood at 23.95%, with a return on equity of 28.15%. Analysts are predicting CSX will generate an EPS of 1.83 for the current fiscal year. Additionally, CSX recently announced a quarterly dividend of $0.13 per share, set to be paid on March 14th. Shareholders on record as of February 28th will receive this dividend, which shows an annualized yield of 1.63%. This payment reflects an increase from the previous dividend of $0.12, with a payout ratio of 29.05%.

About CSX Co.

CSX Corporation, along with its subsidiaries, specializes in rail-based freight transportation services. Their offerings encompass intermodal container and trailer transport, along with various transportation services including rail-to-truck transfers and bulk commodity operations. CSX plays a vital role in moving chemicals, agricultural goods, metals, automotive products, and fossil fuels, serving as a critical component in the supply chain for electricity-generating plants and industrial facilities.

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