State of Alaska Department of Revenue Sells 26,264 Shares of CSX Co. (NASDAQ:CSX)

State of Alaska Department of Revenue lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 8.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 288,396 shares of the transportation company’s stock after selling 26,264 shares during the quarter. State of Alaska Department of Revenue’s holdings in CSX were worth $9,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Perpetual Ltd acquired a new stake in shares of CSX during the 4th quarter worth $83,301,000. Assenagon Asset Management S.A. lifted its position in CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares during the period. FMR LLC grew its stake in CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares in the last quarter. KBC Group NV increased its holdings in CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after buying an additional 958,957 shares during the period. Finally, Svenska Handelsbanken AB publ acquired a new position in shares of CSX in the 3rd quarter valued at approximately $31,018,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Evercore ISI reduced their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. decreased their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets lowered their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 10th. Finally, Barclays lowered their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

Shares of CSX stock opened at $32.74 on Friday. The stock has a market cap of $63.14 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 1.90 and a beta of 1.23. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The company’s fifty day moving average is $33.10 and its 200 day moving average is $33.87. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts forecast that CSX Co. will post 1.88 EPS for the current year.

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.