Cornerstone Investment Partners LLC Grows Stock Holdings in CSX Corporation (NASDAQ:CSX)

Cornerstone Investment Partners LLC raised its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,904 shares of the transportation company's stock after buying an additional 10,963 shares during the period. Cornerstone Investment Partners LLC's holdings in CSX were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of CSX in the 4th quarter valued at about $780,194,000. Ameriprise Financial Inc. raised its holdings in shares of CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after purchasing an additional 9,863,587 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock valued at $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Fiduciary Management Inc. WI bought a new stake in shares of CSX in the 4th quarter valued at about $178,259,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of CSX by 21.6% in the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after purchasing an additional 5,033,743 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock traded up $0.56 during mid-day trading on Friday, reaching $34.10. 27,259,122 shares of the company traded hands, compared to its average volume of 13,403,822. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a market capitalization of $64.06 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 3.05 and a beta of 1.23. The firm's fifty day moving average is $31.73 and its two-hundred day moving average is $31.09.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. On average, equities research analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. CSX's payout ratio is 31.14%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent research reports. Citigroup boosted their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday. Sanford C. Bernstein restated a "market perform" rating and issued a $36.00 price target (up previously from $33.00) on shares of CSX in a report on Tuesday, July 8th. Barclays boosted their price target on shares of CSX from $31.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday. Stifel Nicolaus reduced their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Argus set a $32.00 price objective on shares of CSX in a research note on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and a consensus price target of $34.64.

CSX Company 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.