State of Alaska Department of Revenue Sells 17,570 Shares of CSX Co. (NASDAQ:CSX)

State of Alaska Department of Revenue trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 4.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 340,280 shares of the transportation company’s stock after selling 17,570 shares during the quarter. State of Alaska Department of Revenue’s holdings in CSX were worth $12,613,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CSX. Norges Bank acquired a new position in CSX in the 4th quarter worth about $757,276,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors lifted its holdings in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. M&G Investment Management Ltd. boosted its position in CSX by 25.5% in the fourth quarter. M&G Investment Management Ltd. now owns 3,993,901 shares of the transportation company’s stock worth $139,787,000 after purchasing an additional 810,362 shares during the last quarter. Finally, Morgan Stanley boosted its position in CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CSX shares. Wells Fargo & Company began coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. Stifel Nicolaus upped their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. UBS Group dropped their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Jefferies Financial Group lowered their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Finally, Bank of America lowered their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $37.59.

CSX Price Performance

NASDAQ:CSX opened at $33.55 on Thursday. The firm’s fifty day moving average is $33.42 and its two-hundred day moving average is $35.13. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The firm has a market cap of $65.59 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.75 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the company posted $0.48 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts expect that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. CSX’s payout ratio is 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.