Alaska Permanent Fund Corp Cuts Position in CSX Co. (NASDAQ:CSX)

Alaska Permanent Fund Corp lessened its position in shares of CSX Co. (NASDAQ:CSX) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,967 shares of the transportation company’s stock after selling 15,515 shares during the quarter. Alaska Permanent Fund Corp’s holdings in CSX were worth $7,765,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CSX. Fortitude Family Office LLC bought a new position in shares of CSX in the 4th quarter worth $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC grew its position in CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter valued at $34,000. Finally, Avion Wealth increased its position in shares of CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.8 %

Shares of CSX stock traded up $0.26 during trading on Thursday, hitting $33.93. 1,287,153 shares of the stock traded hands, compared to its average volume of 12,255,146. The firm has a market cap of $66.33 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 2.08 and a beta of 1.18. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock’s fifty day simple moving average is $36.73 and its 200 day simple moving average is $34.45.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, equities analysts predict that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CSX. TD Cowen boosted their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Susquehanna upped their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Finally, Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.00.

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.