New York State Common Retirement Fund Sells 225,454 Shares of CSX Co. (NASDAQ:CSX)

New York State Common Retirement Fund trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,068,014 shares of the transportation company’s stock after selling 225,454 shares during the quarter. New York State Common Retirement Fund’s holdings in CSX were worth $106,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of CSX during the 4th quarter valued at $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the 4th quarter worth $34,000. Venturi Wealth Management LLC raised its holdings in CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares during the period. Finally, Avion Wealth raised its holdings in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after purchasing an additional 820 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 0.1 %

CSX traded up $0.04 on Tuesday, hitting $34.66. The company had a trading volume of 5,055,000 shares, compared to its average volume of 12,066,564. The company has a market cap of $67.76 billion, a PE ratio of 19.02, a PEG ratio of 2.05 and a beta of 1.18. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The business’s fifty day simple moving average is $36.83 and its 200 day simple moving average is $34.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Equities research analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a yield of 1.38%. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CSX shares. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Jefferies Financial Group cut their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Bank of America cut their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. UBS Group cut their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Susquehanna increased their price target on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.