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

Cornercap Investment Counsel Inc. decreased its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 61.1% during the third quarter, according to its most recent filing with the SEC. The firm 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 reporting period.

Several other large investors have also recently made changes to their positions in CSX. Price T Rowe Associates Inc. MD boosted its stake in shares of CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company's stock worth $2,418,883,000 after buying an additional 443,755 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company's stock valued at $573,128,000 after buying an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company's stock valued at $415,466,000 after buying an additional 1,060,617 shares during the period. Bank of Montreal Can increased its stake in CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company's stock worth $225,917,000 after acquiring an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP boosted its position in shares of CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company's stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 1.4 %

NASDAQ:CSX traded down $0.50 during trading hours on Friday, hitting $35.13. 10,584,224 shares of the stock traded hands, compared to its average volume of 11,734,090. The firm has a 50 day moving average price of $34.29 and a 200 day moving average price of $33.88. The firm has a market cap of $67.75 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.32 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a fifty-two week low of $30.86 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The company's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. Equities research analysts anticipate that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, November 29th. CSX's payout ratio is presently 25.81%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Susquehanna cut their price target on CSX from $42.00 to $40.00 and set a "positive" rating on the stock in a report on Thursday, October 17th. Barclays lifted their price objective on CSX from $40.00 to $41.00 and gave the company an "overweight" rating in a research note on Wednesday. Benchmark reissued a "buy" rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.78.

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.