CSX Co. (NASDAQ:CSX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in CSX Co. (NASDAQ:CSX) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,867 shares of the transportation company’s stock after selling 20,369 shares during the period. Retirement Systems of Alabama’s holdings in CSX were worth $14,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CSX. State Street Corp raised its position in CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after acquiring an additional 455,258 shares during the period. Geode Capital Management LLC raised its position in CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC raised its position in CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after acquiring an additional 857,302 shares during the period. Bank of New York Mellon Corp raised its position in CSX by 6.6% during the second 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 period. Finally, FMR LLC raised its position 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 acquiring an additional 1,447,651 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 1.3 %

Shares of CSX stock opened at $33.24 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a market cap of $64.10 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20. The company has a 50-day moving average of $34.77 and a two-hundred day moving average of $34.09. CSX Co. has a 1-year low of $31.74 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. On average, analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, November 29th. CSX’s payout ratio is 25.81%.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. Evercore ISI reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus reduced their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. TD Cowen reduced their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Stephens reduced their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

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.