Kentucky Retirement Systems Trims Holdings in CSX Co. (NASDAQ:CSX)

Kentucky Retirement Systems decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 5.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 150,073 shares of the transportation company’s stock after selling 8,039 shares during the quarter. Kentucky Retirement Systems’ holdings in CSX were worth $5,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in CSX by 0.7% during 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 in the last quarter. Capital International Investors raised its position in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares during the period. Fisher Asset Management LLC raised its position in CSX by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after purchasing an additional 470,640 shares during the period. Norges Bank purchased a new stake in CSX in the fourth quarter valued at $757,276,000. Finally, Charles Schwab Investment Management Inc. raised its position in CSX by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock valued at $388,922,000 after purchasing an additional 135,169 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CSX. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. Sanford C. Bernstein lifted their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Stifel Nicolaus lifted their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.14.

CSX Stock Up 2.1 %

CSX traded up $0.72 on Friday, hitting $34.32. 9,975,650 shares of the company were exchanged, compared to its average volume of 10,388,902. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a market cap of $67.09 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $33.45 and a two-hundred day moving average price of $35.05.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.40%. CSX’s payout ratio is 26.37%.

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.