Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Holdings in CSX Co. (NASDAQ:CSX)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in CSX Co. (NASDAQ:CSX - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,897 shares of the transportation company's stock after selling 21,504 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in CSX were worth $1,158,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CSX. Valley Wealth Managers Inc. increased its stake 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 valued at $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in shares of CSX during the third quarter valued at approximately $31,000. Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $33,000. Addison Advisors LLC increased its stake in shares of CSX by 348.5% during the third 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 in the last quarter. Finally, Center for Financial Planning Inc. increased its stake in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock valued at $35,000 after purchasing an additional 720 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of CSX stock traded down $0.16 on Friday, hitting $32.30. 23,611,829 shares of the stock traded hands, compared to its average volume of 14,363,321. The firm has a market cap of $62.29 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.92 and a beta of 1.23. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The firm has a 50 day simple moving average of $32.65 and a two-hundred day simple moving average of $33.77. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX - Get Free Report) 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 return on equity of 28.15% and a net margin of 23.95%. As a group, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is 26.82%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CSX shares. Royal Bank of Canada decreased their target price on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their price target on shares of CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Citigroup cut their price target 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. Susquehanna cut their price target on shares of CSX from $40.00 to $39.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Finally, Benchmark reiterated a "buy" rating and set a $38.00 price target on shares of CSX in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.16.

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.