Kentucky Retirement Systems lifted its stake in CSX Co. (NASDAQ:CSX – Get Rating) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 167,612 shares of the transportation company’s stock after acquiring an additional 6,241 shares during the quarter. Kentucky Retirement Systems’ holdings in CSX were worth $4,465,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Bornite Capital Management LP acquired a new position in CSX during the first quarter worth approximately $14,980,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of CSX by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after purchasing an additional 347,514 shares during the last quarter. Blair William & Co. IL grew its position in shares of CSX by 12.7% in the first quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after purchasing an additional 13,829 shares during the last quarter. Sei Investments Co. grew its position in shares of CSX by 4.5% in the first quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after purchasing an additional 8,488 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of CSX by 16.8% in the first quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after purchasing an additional 10,276 shares during the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on CSX. Wells Fargo & Company upped their target price on CSX from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 4th. Cowen upped their target price on CSX from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, January 26th. Benchmark decreased their target price on CSX from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, January 26th. StockNews.com raised CSX from a “hold” rating to a “buy” rating in a research report on Thursday, March 9th. Finally, Barclays boosted their price target on CSX from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, November 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.58.
CSX Stock Up 0.7 %
CSX (NASDAQ:CSX – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. CSX had a net margin of 28.05% and a return on equity of 31.48%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Equities analysts expect that CSX Co. will post 1.86 earnings per share for the current fiscal year.
CSX Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, February 27th. This is an increase from CSX’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.50%. CSX’s dividend payout ratio is 22.68%.
CSX Company Profile
CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.
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