Allstate Corp Invests $1.86 Million in CSX Co. (NASDAQ:CSX)

Allstate Corp acquired a new stake in CSX Co. (NASDAQ:CSX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,550 shares of the transportation company’s stock, valued at approximately $1,857,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Diversified Trust Co increased its stake in shares of CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares during the period. Marshall Financial Group LLC bought a new stake in CSX in the fourth quarter valued at approximately $1,084,000. Carnegie Investment Counsel increased its position in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares during the last quarter. Finally, Waycross Partners LLC lifted its position in shares of CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after purchasing an additional 40,611 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the subject of several recent analyst reports. Susquehanna decreased their price objective on shares of CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets decreased their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

CSX Trading Down 2.7 %

CSX opened at $29.11 on Friday. CSX Co. has a fifty-two week low of $28.98 and a fifty-two week high of $37.10. The firm has a market capitalization of $54.86 billion, a PE ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company’s 50-day moving average is $31.75 and its 200 day moving average is $33.20.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate 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 predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

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

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.