Kentucky Retirement Systems Lowers Stake in CSX Co. (NASDAQ:CSX)

Kentucky Retirement Systems lessened its holdings in CSX Co. (NASDAQ:CSX) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,316 shares of the transportation company’s stock after selling 2,757 shares during the quarter. Kentucky Retirement Systems’ holdings in CSX were worth $4,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in CSX by 0.7% in the 1st 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 acquiring an additional 443,755 shares during the last quarter. Capital International Investors grew its holdings in CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC grew its holdings in CSX by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after acquiring an additional 433,228 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 2.2 %

Shares of CSX stock opened at $34.80 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The stock has a market capitalization of $68.03 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a 50-day simple moving average of $34.00 and a two-hundred day simple moving average of $34.42.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. On average, analysts anticipate that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. CSX’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 target price on shares of CSX in a research note on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company started coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.