New York State Teachers Retirement System Sells 54,599 Shares of CSX Co. (NASDAQ:CSX)

New York State Teachers Retirement System trimmed its stake in CSX Co. (NASDAQ:CSX - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,517,892 shares of the transportation company's stock after selling 54,599 shares during the period. New York State Teachers Retirement System owned about 0.08% of CSX worth $48,982,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CSX. Exchange Traded Concepts LLC lifted its position in CSX by 255.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,505 shares of the transportation company's stock valued at $259,000 after purchasing an additional 5,396 shares during the period. Creative Planning raised its holdings in CSX by 2.2% during the 3rd quarter. Creative Planning now owns 634,696 shares of the transportation company's stock worth $21,916,000 after buying an additional 13,613 shares during the period. NBC Securities Inc. raised its stake in shares of CSX by 8.3% in the 3rd quarter. NBC Securities Inc. now owns 7,323 shares of the transportation company's stock valued at $252,000 after purchasing an additional 560 shares during the period. Secure Asset Management LLC raised its position in CSX by 3.5% in the 3rd quarter. Secure Asset Management LLC now owns 16,838 shares of the transportation company's stock valued at $581,000 after buying an additional 570 shares during the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of CSX by 1.9% in the third quarter. Trust Co. of Vermont now owns 70,244 shares of the transportation company's stock valued at $2,426,000 after purchasing an additional 1,278 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 3.7 %

Shares of NASDAQ CSX traded down $1.23 during midday trading on Wednesday, reaching $32.41. The stock had a trading volume of 13,730,989 shares, compared to its average volume of 14,157,320. The firm has a market cap of $62.50 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The company's 50 day moving average price is $32.70 and its 200 day moving average price is $33.79.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is an increase from CSX's previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. CSX's payout ratio is currently 26.82%.

Analyst Ratings Changes

A number of analysts recently issued reports on CSX shares. Jefferies Financial Group raised CSX from a "hold" rating to a "buy" rating and set a $37.00 target price on the stock in a research report on Friday, January 10th. Raymond James reaffirmed an "outperform" rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and decreased their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Barclays reduced 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. Finally, BMO Capital Markets reduced their target price on CSX from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.16.

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.