Kentucky Retirement Systems Sells 12,253 Shares of CSX Co. (NASDAQ:CSX)

Kentucky Retirement Systems lowered its holdings in shares of CSX Co. (NASDAQ:CSX) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 135,063 shares of the transportation company’s stock after selling 12,253 shares during the period. Kentucky Retirement Systems’ holdings in CSX were worth $4,664,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSX. Blair William & Co. IL increased its stake in shares of CSX by 11.6% in the first quarter. Blair William & Co. IL now owns 164,120 shares of the transportation company’s stock valued at $6,084,000 after buying an additional 17,109 shares during the period. Acadian Asset Management LLC raised its holdings in CSX by 12.0% during the 1st quarter. Acadian Asset Management LLC now owns 42,999 shares of the transportation company’s stock worth $1,592,000 after purchasing an additional 4,606 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of CSX by 35.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 30,158 shares of the transportation company’s stock worth $1,118,000 after purchasing an additional 7,951 shares during the period. Catalytic Wealth RIA LLC boosted its stake in shares of CSX by 5.1% in the 1st quarter. Catalytic Wealth RIA LLC now owns 14,135 shares of the transportation company’s stock valued at $524,000 after purchasing an additional 691 shares during the last quarter. Finally, Trustmark National Bank Trust Department increased its position in shares of CSX by 3.4% during the first quarter. Trustmark National Bank Trust Department now owns 13,042 shares of the transportation company’s stock worth $483,000 after buying an additional 432 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $35.13 on Friday. The stock has a market cap of $67.75 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.32 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a fifty-two week low of $30.86 and a fifty-two week high of $40.12. The firm’s 50-day simple moving average is $34.32 and its 200 day simple moving average is $33.90.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is 25.81%.

Analysts Set New Price Targets

CSX has been the topic of a number of research analyst reports. Loop Capital cut their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets decreased their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Barclays boosted their price target on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company reduced their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Finally, Stifel Nicolaus lowered their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.