CSX Co. (NASDAQ:CSX) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp decreased its position in shares of CSX Co. (NASDAQ:CSX) by 6.5% during the 4th quarter, HoldingsChannel reports. The fund owned 223,967 shares of the transportation company’s stock after selling 15,515 shares during the quarter. Alaska Permanent Fund Corp’s holdings in CSX were worth $7,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. High Net Worth Advisory Group LLC increased its holdings in shares of CSX by 1.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 304 shares during the period. Stratos Wealth Advisors LLC boosted its position in shares of CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 304 shares during the period. Cornercap Investment Counsel Inc. boosted its position in shares of CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after purchasing an additional 309 shares during the period. Park Place Capital Corp boosted its position in shares of CSX by 12.1% in the 3rd quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 330 shares during the period. Finally, Astoria Portfolio Advisors LLC. boosted its position in CSX by 2.4% during the 3rd quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock worth $434,000 after acquiring an additional 349 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Stifel Nicolaus boosted their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. BMO Capital Markets boosted their target price on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Finally, StockNews.com cut CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $38.00.

CSX Stock Performance

Shares of CSX stock traded up $0.26 during trading on Thursday, hitting $33.93. 1,287,153 shares of the company’s stock were exchanged, compared to its average volume of 12,255,146. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The business has a 50-day simple moving average of $36.73 and a 200-day simple moving average of $34.45. The stock has a market capitalization of $66.33 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.08 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. On average, research analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

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.