Cornerstone Investment Partners LLC Sells 47,270 Shares of CSX Corporation $CSX

Cornerstone Investment Partners LLC decreased its stake in shares of CSX Corporation (NASDAQ:CSX) by 64.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,886 shares of the transportation company’s stock after selling 47,270 shares during the period. Cornerstone Investment Partners LLC’s holdings in CSX were worth $919,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in CSX during the second quarter valued at approximately $25,000. WFA of San Diego LLC bought a new stake in shares of CSX during the 2nd quarter worth $28,000. Pinnacle Bancorp Inc. boosted its holdings in shares of CSX by 121.5% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after buying an additional 729 shares during the period. Cornerstone Planning Group LLC grew its stake in CSX by 63.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,470 shares of the transportation company’s stock valued at $88,000 after buying an additional 959 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in CSX in the 3rd quarter worth $157,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSX. Citigroup decreased their price target on shares of CSX from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Robert W. Baird set a $40.00 price objective on CSX and gave the stock an “outperform” rating in a research report on Monday, October 20th. Morgan Stanley set a $30.00 target price on CSX and gave the company an “equal weight” rating in a report on Monday, December 8th. Jefferies Financial Group set a $42.00 price target on CSX and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, TD Cowen reissued a “buy” rating on shares of CSX in a research report on Monday, January 12th. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.77.

CSX Price Performance

Shares of CSX stock opened at $41.34 on Thursday. The firm has a market cap of $76.98 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 2.09 and a beta of 1.30. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.71. The stock’s fifty day simple moving average is $37.05 and its 200 day simple moving average is $35.57. CSX Corporation has a one year low of $26.22 and a one year high of $41.51.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Diana B. Sorfleet sold 66,667 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $37.48, for a total value of $2,498,679.16. Following the completion of the transaction, the chief accounting officer directly owned 170,777 shares in the company, valued at approximately $6,400,721.96. The trade was a 28.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Fortune sold 31,456 shares of CSX stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the completion of the transaction, the executive vice president directly owned 82,034 shares in the company, valued at approximately $3,170,614.10. The trade was a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.55% of the company’s stock.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.