CSX Corporation $CSX Stock Holdings Increased by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in CSX during the fourth quarter, increasing holdings by 105.7% to 136,869 shares worth about $4.96 million.
• CSX reported better-than-expected earnings for the quarter, posting $0.43 EPS versus estimates of $0.39, while revenue rose 1.7% year over year to $3.48 billion.
• The company also announced a quarterly dividend of $0.14 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $45.98.

Allstate Corp grew its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 105.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,869 shares of the transportation company's stock after purchasing an additional 70,326 shares during the quarter. Allstate Corp's holdings in CSX were worth $4,962,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Strengthening Families & Communities LLC bought a new position in CSX in the 3rd quarter worth approximately $2,199,000. Rathbones Group PLC boosted its stake in CSX by 20.6% during the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company's stock valued at $7,367,000 after purchasing an additional 35,403 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its stake in shares of CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company's stock worth $3,498,000 after buying an additional 24,566 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of CSX by 81.9% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company's stock worth $33,555,000 after buying an additional 425,395 shares in the last quarter. Finally, Reaves W H & Co. Inc. bought a new stake in shares of CSX in the 3rd quarter worth $5,326,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX opened at $46.61 on Wednesday. The stock has a fifty day moving average of $43.00 and a 200-day moving average of $39.51. The company has a market capitalization of $86.61 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.36 and a beta of 1.24. CSX Corporation has a one year low of $30.85 and a one year high of $46.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, equities analysts anticipate that CSX Corporation will post 1.9 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.14 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. CSX's dividend payout ratio is presently 34.36%.

Insider Activity

In other CSX news, CEO Stephen F. Angel bought 25,000 shares of CSX stock in a transaction dated Friday, March 6th. The stock was bought at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the acquisition, the chief executive officer directly owned 146,540 shares of the company's stock, valued at approximately $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. New Street Research set a $49.00 price objective on CSX in a research note on Thursday, April 23rd. Robert W. Baird boosted their price objective on CSX from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 19th. Stephens boosted their price objective on CSX from $42.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday, April 6th. Royal Bank Of Canada boosted their price objective on CSX from $43.00 to $47.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Finally, BMO Capital Markets increased their price objective on CSX from $40.00 to $45.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.98.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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