Teacher Retirement System of Texas Sells 1,067,616 Shares of CSX Co. (NASDAQ:CSX)

Teacher Retirement System of Texas reduced its stake in CSX Co. (NASDAQ:CSX - Free Report) by 90.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,356 shares of the transportation company's stock after selling 1,067,616 shares during the quarter. Teacher Retirement System of Texas' holdings in CSX were worth $3,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of 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 purchasing an additional 6,730,316 shares in the last quarter. Raymond James Financial Inc. bought a new stake in CSX in the 4th quarter valued at approximately $85,959,000. Perpetual Ltd acquired a new position in CSX during the 4th quarter worth approximately $83,301,000. River Road Asset Management LLC bought a new position in shares of CSX during the 4th quarter worth approximately $46,861,000. Finally, FMR LLC raised its holdings in shares of CSX by 10.2% in 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 last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James restated 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. JPMorgan Chase & Co. decreased their price objective on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Barclays dropped their target price on CSX from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They issued a "hold" rating and a $34.00 price target for the company. Finally, Benchmark reiterated a "buy" rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average price target of $36.75.

Remove Ads

CSX Stock Performance

Shares of CSX stock traded down $0.19 on Thursday, hitting $29.72. The stock had a trading volume of 2,234,376 shares, compared to its average volume of 11,702,881. The stock has a market cap of $56.30 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. 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 twelve month low of $28.98 and a twelve month high of $37.18. The business's 50 day moving average is $31.88 and its two-hundred day moving average is $33.26.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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 net margin of 23.95% and a return on equity of 28.15%. Analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.75%. This is a positive change from CSX's previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. CSX's dividend payout ratio (DPR) is currently 29.05%.

CSX Company 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.