State of Alaska Department of Revenue Has $10.86 Million Stock Position in CSX Co. (NASDAQ:CSX)

State of Alaska Department of Revenue lowered its stake in CSX Co. (NASDAQ:CSX) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,660 shares of the transportation company’s stock after selling 11,025 shares during the period. State of Alaska Department of Revenue’s holdings in CSX were worth $10,863,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its holdings in shares of CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the period. Ascent Group LLC lifted its holdings in shares of CSX by 559.7% during the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares during the period. PFG Advisors lifted its holdings in shares of CSX by 2.1% during the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after purchasing an additional 387 shares during the period. Sei Investments Co. lifted its holdings in shares of CSX by 4.2% during the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after purchasing an additional 23,938 shares during the period. Finally, William B. Walkup & Associates Inc. acquired a new position in shares of CSX during the second quarter worth $867,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 0.5 %

CSX opened at $33.27 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company has a fifty day moving average price of $34.03 and a two-hundred day moving average price of $33.85. The company has a market cap of $65.04 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts predict that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent research reports. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Stifel Nicolaus dropped their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Evercore ISI dropped their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Stephens dropped their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Barclays dropped their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

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.