Kentucky Retirement Systems Insurance Trust Fund Sells 5,187 Shares of CSX Co. (NASDAQ:CSX)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in CSX Co. (NASDAQ:CSX) by 7.4% during the 1st quarter, HoldingsChannel reports. 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc purchased a new position in CSX in the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX in the 1st quarter worth $29,000. Turtle Creek Wealth Advisors LLC bought a new stake in CSX in the fourth quarter worth $34,000. Burkett Financial Services LLC bought a new position in shares of CSX during the fourth quarter valued at about $34,000. Finally, Avion Wealth grew its stake in shares of CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after buying an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 2.1 %

Shares of NASDAQ CSX traded up $0.72 during midday trading on Friday, hitting $34.32. 9,975,650 shares of the company traded hands, compared to its average volume of 10,388,902. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a market cap of $67.09 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.86 and a beta of 1.20. The stock has a 50-day moving average price of $33.45 and a 200 day moving average price of $35.05. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSX. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Jefferies Financial Group cut their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. UBS Group dropped their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada decreased their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.14.

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.