CSX Co. (NASDAQ:CSX) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its position in CSX Co. (NASDAQ:CSX – Get Rating) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,657,758 shares of the transportation company’s stock after selling 75,352 shares during the period. California State Teachers Retirement System owned approximately 0.17% of CSX worth $97,443,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Power Corp of Canada bought a new position in CSX in the 3rd quarter valued at about $277,000. National Pension Service grew its position in CSX by 0.6% in the 3rd quarter. National Pension Service now owns 3,302,519 shares of the transportation company’s stock valued at $89,795,000 after buying an additional 20,034 shares in the last quarter. M&T Bank Corp grew its position in CSX by 40.9% in the 3rd quarter. M&T Bank Corp now owns 563,038 shares of the transportation company’s stock valued at $14,998,000 after buying an additional 163,519 shares in the last quarter. Advisors Capital Management LLC bought a new position in CSX in the 3rd quarter valued at about $300,000. Finally, Glenmede Trust Co. NA grew its position in CSX by 43.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,227,408 shares of the transportation company’s stock valued at $32,696,000 after buying an additional 373,697 shares in the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of recent analyst reports. Susquehanna increased their target price on shares of CSX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Benchmark reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of CSX from $36.00 to $39.00 in a research report on Monday, November 28th. Wells Fargo & Company raised their price objective on shares of CSX from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 4th. Finally, Barclays raised their price objective on shares of CSX from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CSX presently has a consensus rating of “Hold” and an average target price of $34.58.

CSX Price Performance

NASDAQ CSX opened at $28.98 on Thursday. The firm has a market capitalization of $59.77 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.29 and a beta of 1.22. The company has a 50 day simple moving average of $31.18 and a 200-day simple moving average of $30.52. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.56 and a quick ratio of 1.42. CSX Co. has a 52-week low of $25.80 and a 52-week high of $38.17.

CSX (NASDAQ:CSX – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. CSX had a net margin of 28.05% and a return on equity of 31.48%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. Equities research analysts predict that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.52%. The ex-dividend date was Monday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.10. CSX’s dividend payout ratio (DPR) is presently 22.68%.

About CSX

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.