CSX Co. (NASDAQ:CSX) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 37.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,897 shares of the transportation company’s stock after selling 21,504 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CSX were worth $1,158,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CSX. Mirae Asset Global Investments Co. Ltd. increased its holdings in CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after buying an additional 80,423 shares during the period. Diversified Trust Co increased its holdings in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the period. Marshall Financial Group LLC acquired a new position in CSX in the 4th quarter worth approximately $1,084,000. Thrivent Financial for Lutherans increased its holdings in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after buying an additional 24,430 shares during the period. Finally, Carnegie Investment Counsel increased its holdings in CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after buying an additional 8,474 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 0.8 %

Shares of CSX stock opened at $33.64 on Wednesday. The stock’s fifty day moving average is $32.70 and its two-hundred day moving average is $33.79. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a market capitalization of $64.87 billion, a P/E ratio of 18.79, a PEG ratio of 1.91 and a beta of 1.23. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts expect that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.55%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 26.82%.

Wall Street Analyst Weigh In

CSX has been the topic of several research reports. Susquehanna cut their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada cut their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Finally, Barclays dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.16.

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.