CSX Co. (NASDAQ:CSX) Shares Sold by TIAA Trust National Association

TIAA Trust National Association decreased its holdings in CSX Co. (NASDAQ:CSX) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 429,741 shares of the transportation company’s stock after selling 67,656 shares during the period. TIAA Trust National Association’s holdings in CSX were worth $13,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp increased its position in CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after purchasing an additional 455,258 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after buying an additional 190,346 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after buying an additional 299,536 shares during the period. Bank of New York Mellon Corp lifted its holdings in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the last quarter. Finally, FMR LLC grew its position in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 1.1 %

NASDAQ CSX opened at $29.53 on Wednesday. CSX Co. has a 52 week low of $28.98 and a 52 week high of $37.18. The firm has a 50 day moving average of $31.93 and a two-hundred day moving average of $33.28. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $55.95 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 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 expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.76%. CSX’s payout ratio is presently 29.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective on the stock. BMO Capital Markets dropped their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised shares of 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. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

About CSX

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.