Kentucky Retirement Systems Sells 1,835 Shares of CSX Co. (NASDAQ:CSX)

Kentucky Retirement Systems reduced its stake in CSX Co. (NASDAQ:CSX) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 133,228 shares of the transportation company’s stock after selling 1,835 shares during the period. Kentucky Retirement Systems’ holdings in CSX were worth $4,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. lifted its holdings in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in CSX during the third quarter worth about $31,000. Sierra Ocean LLC acquired a new stake in CSX in the 4th quarter worth about $33,000. Addison Advisors LLC boosted its holdings in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. Finally, Center for Financial Planning Inc. grew its position in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 0.5 %

Shares of CSX opened at $32.30 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The stock has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23. The stock has a fifty day moving average of $32.63 and a 200-day moving average of $33.77.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.61%. CSX’s dividend payout ratio (DPR) is currently 26.82%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Finally, Citigroup decreased their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

About CSX

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.