Allstate Corp Has $4.96 Million Stake in CSX Corporation $CSX

Allstate Corp boosted its holdings in shares of CSX Corporation (NASDAQ:CSX) by 105.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,869 shares of the transportation company’s stock after buying an additional 70,326 shares during the quarter. Allstate Corp’s holdings in CSX were worth $4,962,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Rhumbline Advisers increased its position in CSX by 0.3% during the third quarter. Rhumbline Advisers now owns 3,450,199 shares of the transportation company’s stock worth $122,516,000 after buying an additional 8,639 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in CSX by 81.9% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after buying an additional 425,395 shares during the last quarter. Captrust Financial Advisors increased its position in CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after buying an additional 3,162 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in CSX by 7.8% during the fourth quarter. Miller Howard Investments Inc. NY now owns 223,507 shares of the transportation company’s stock worth $8,102,000 after buying an additional 16,139 shares during the last quarter. Finally, Rathbones Group PLC increased its position in CSX by 20.6% during the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock worth $7,367,000 after buying an additional 35,403 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CSX shares. Raymond James Financial raised their price target on CSX from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Jefferies Financial Group raised their price target on CSX from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $41.00 price target (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Rothschild & Co Redburn raised their price target on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $46.00 price target (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.98.

CSX Stock Up 2.4%

NASDAQ CSX opened at $46.61 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. The firm has a 50-day simple moving average of $43.00 and a 200 day simple moving average of $39.51. CSX Corporation has a twelve month low of $30.85 and a twelve month high of $46.74. The stock has a market cap of $86.61 billion, a PE ratio of 28.60, a PEG ratio of 2.36 and a beta of 1.24.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. On average, research analysts forecast that CSX Corporation will post 1.9 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. CSX’s dividend payout ratio (DPR) is currently 34.36%.

Insider Buying and Selling

In other CSX news, CEO Stephen F. Angel purchased 25,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the purchase, the chief executive officer directly owned 146,540 shares in the company, valued at approximately $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.