CSX Corporation (NASDAQ:CSX) Shares Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 56.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,061 shares of the transportation company's stock after acquiring an additional 20,164 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in CSX were worth $1,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in CSX during the fourth quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in CSX by 219.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after buying an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Performance

NASDAQ:CSX traded up $0.36 during trading hours on Monday, reaching $32.42. The company had a trading volume of 12,306,111 shares, compared to its average volume of 13,294,790. The firm has a market cap of $60.90 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The business's 50 day moving average price is $30.16 and its 200-day moving average price is $31.07. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Research analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, May 30th. CSX's dividend payout ratio (DPR) is 31.14%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSX. Bank of America boosted their price objective on shares of CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Citigroup lowered their price objective on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus lowered their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, BMO Capital Markets lowered their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.14.

CSX 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.