Cornerstone Wealth Management LLC Trims Stock Position in CSX Co. (NASDAQ:CSX)

Cornerstone Wealth Management LLC cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,640 shares of the transportation company’s stock after selling 326 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in CSX were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CSX. Western Wealth Management LLC grew its stake in shares of CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after buying an additional 295 shares in the last quarter. TriaGen Wealth Management LLC grew its stake 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 in the last quarter. Miracle Mile Advisors LLC grew its stake in CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after purchasing an additional 303 shares in the last quarter. Team Hewins LLC grew its position in shares of CSX by 1.7% in the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after acquiring an additional 306 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its position in shares of CSX by 33.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after acquiring an additional 316 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX opened at $34.12 on Friday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The business has a 50-day moving average of $34.02 and a two-hundred day moving average of $33.97. The stock has a market capitalization of $66.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the firm posted $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts predict that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.41%. CSX’s dividend payout ratio is 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research reports. Wells Fargo & Company decreased their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday. BMO Capital Markets cut their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. TD Cowen cut their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday. Royal Bank of Canada cut their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

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.