Allstate Corp Acquires Shares of 57,550 CSX Co. (NASDAQ:CSX)

Allstate Corp bought a new position in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 57,550 shares of the transportation company’s stock, valued at approximately $1,857,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSX. FMR LLC lifted its position in shares of CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CSX by 3.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 801,352 shares of the transportation company’s stock valued at $27,671,000 after acquiring an additional 26,109 shares during the period. Public Sector Pension Investment Board lifted its holdings in CSX by 10.3% during the third quarter. Public Sector Pension Investment Board now owns 82,276 shares of the transportation company’s stock valued at $2,841,000 after purchasing an additional 7,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in CSX during the third quarter worth about $14,261,000. Finally, Erste Asset Management GmbH purchased a new position in shares of CSX in the third quarter worth about $2,204,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 2.7 %

Shares of NASDAQ:CSX opened at $29.11 on Friday. The firm has a market capitalization of $54.86 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a 52-week low of $28.98 and a 52-week high of $37.10. The firm has a fifty day moving average of $31.75 and a 200 day moving average of $33.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, research analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

Analysts Set New Price Targets

A number of analysts recently commented on CSX shares. Susquehanna dropped their price target on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Barclays dropped their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.75.

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.