CSX Co. (NASDAQ:CSX) Stock Position Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 90.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,356 shares of the transportation company’s stock after selling 1,067,616 shares during the period. Teacher Retirement System of Texas’ holdings in CSX were worth $3,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares during the period. Raymond James Financial Inc. acquired a new position in CSX during the 4th quarter worth $85,959,000. Perpetual Ltd acquired a new position in CSX during the 4th quarter worth $83,301,000. River Road Asset Management LLC bought a new position in shares of CSX in the fourth quarter worth $46,861,000. Finally, FMR LLC increased its holdings in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Raymond James reissued an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.00.

CSX Stock Performance

CSX stock opened at $29.85 on Tuesday. The company has a market capitalization of $56.55 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.92 and a beta of 1.25. The firm has a 50 day moving average of $31.99 and a two-hundred day moving average of $33.31. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.40.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts anticipate that CSX Co. will post 1.83 EPS 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 given a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend 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.