Allstate Corp Decreases Holdings in CSX Co. (NASDAQ:CSX)

Allstate Corp lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,504 shares of the transportation company’s stock after selling 858 shares during the quarter. Allstate Corp’s holdings in CSX were worth $295,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CSX. Fortitude Family Office LLC bought a new stake in CSX during the 4th quarter valued at $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in CSX during the 4th quarter valued at about $34,000. 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 valued at $35,000 after buying an additional 820 shares during the period. Finally, Tortoise Investment Management LLC purchased a new stake in shares of CSX in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group decreased their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. BMO Capital Markets lifted their price objective on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Royal Bank of Canada lowered their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Finally, Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Stock Up 0.5 %

CSX stock traded up $0.18 during midday trading on Friday, hitting $33.68. The stock had a trading volume of 2,133,013 shares, compared to its average volume of 11,963,968. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The business has a 50-day moving average of $35.09 and a two-hundred day moving average of $34.91. The firm has a market cap of $65.84 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, May 31st. CSX’s payout ratio is 26.37%.

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.