Kentucky Retirement Systems Insurance Trust Fund Has $2.42 Million Stock Position in CSX Co. (NASDAQ:CSX)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in shares of CSX Co. (NASDAQ:CSX) by 7.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 65,214 shares of the transportation company’s stock after selling 5,187 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CSX were worth $2,417,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of CSX by 27.4% during the 3rd quarter. Wellington Management Group LLP now owns 83,800 shares of the transportation company’s stock worth $2,577,000 after buying an additional 18,043 shares during the period. Mutual Advisors LLC grew its position in shares of CSX by 21.8% in the fourth quarter. Mutual Advisors LLC now owns 11,176 shares of the transportation company’s stock valued at $387,000 after purchasing an additional 2,000 shares during the last quarter. Raymond James & Associates grew its position in shares of CSX by 6.2% in the fourth quarter. Raymond James & Associates now owns 1,682,049 shares of the transportation company’s stock valued at $58,317,000 after purchasing an additional 97,505 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of CSX by 1.5% during the fourth quarter. Pacer Advisors Inc. now owns 225,042 shares of the transportation company’s stock worth $7,802,000 after purchasing an additional 3,226 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new stake in CSX during the 4th quarter worth approximately $255,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CSX. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Royal Bank of Canada cut their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Stifel Nicolaus increased their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, July 8th. Finally, Sanford C. Bernstein boosted their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.14.

CSX Price Performance

CSX stock traded up $0.72 during midday trading on Friday, reaching $34.32. The company’s stock had a trading volume of 9,975,650 shares, compared to its average volume of 10,388,902. 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 stock has a market cap of $67.09 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The business has a 50-day moving average price of $33.45 and a 200-day moving average price of $35.05.

CSX Dividend Announcement

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

CSX 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.