Allstate Corp Has $295,000 Stock Holdings in CSX Co. (NASDAQ:CSX)

Allstate Corp lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,504 shares of the transportation company’s stock after selling 858 shares during the period. Allstate Corp’s holdings in CSX were worth $295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Morgan Stanley grew its stake in CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares in the last quarter. International Assets Investment Management LLC increased its holdings in CSX by 3,241.9% in the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after buying an additional 228,263 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in CSX by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after acquiring an additional 34,730 shares in the last quarter. Sapient Capital LLC acquired a new stake in CSX in the fourth quarter valued at approximately $1,279,000. Finally, EP Wealth Advisors LLC grew its position in CSX by 414.8% in the third quarter. EP Wealth Advisors LLC now owns 51,534 shares of the transportation company’s stock worth $1,585,000 after acquiring an additional 41,524 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Susquehanna increased their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. TD Cowen boosted their target price on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Finally, UBS Group dropped their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Five equities 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 an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Stock Performance

Shares of CSX traded up $0.18 during trading hours on Friday, reaching $33.68. 2,133,013 shares of the company traded hands, compared to its average volume of 11,963,968. The stock’s fifty day moving average is $35.09 and its 200 day moving average is $34.91. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The stock has a market cap of $65.84 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the company posted $0.48 earnings per share. CSX’s revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.12 per share. The ex-dividend date is Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.