Retirement Systems of Alabama Sells 20,369 Shares of CSX Co. (NASDAQ:CSX)

Retirement Systems of Alabama cut its position in CSX Co. (NASDAQ:CSX - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent Form 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 quarter. Retirement Systems of Alabama's holdings in CSX were worth $14,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC increased its holdings in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock worth $407,000 after acquiring an additional 293 shares during the period. Lake Street Advisors Group LLC raised its holdings in shares of CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company's stock valued at $595,000 after acquiring an additional 306 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock valued at $830,000 after acquiring an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company's stock worth $1,222,000 after purchasing an additional 309 shares in the last quarter. Finally, Associated Banc Corp raised its stake in CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company's stock valued at $1,918,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Down 0.9 %

Shares of CSX stock traded down $0.30 during mid-day trading on Monday, hitting $32.94. The company's stock had a trading volume of 12,670,723 shares, compared to its average volume of 11,646,790. CSX Co. has a 52-week low of $31.74 and a 52-week high of $40.12. The business has a 50-day moving average price of $34.77 and a 200 day moving average price of $34.09. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market cap of $63.52 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.24 and a beta of 1.20.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion for the quarter, compared to analysts' expectations of $3.68 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. CSX's quarterly revenue was up 1.3% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, November 29th. CSX's dividend payout ratio is 25.81%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. Stifel Nicolaus lowered their price objective on shares of CSX from $39.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Barclays increased their target price on shares of CSX from $40.00 to $41.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their price target on shares of CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.78.

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.