CSX Co. (NASDAQ:CSX) Holdings Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its stake in CSX Co. (NASDAQ:CSX - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 102,940 shares of the transportation company's stock after selling 8,754 shares during the quarter. Maryland State Retirement & Pension System's holdings in CSX were worth $3,322,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in CSX during the fourth quarter worth about $31,000. Sierra Ocean LLC acquired a new stake in CSX during the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. increased its position in CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company's stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Atala Financial Inc acquired a new position in CSX during the fourth quarter valued at approximately $36,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in CSX during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CSX shares. Royal Bank of Canada reduced their target price on shares of CSX from $34.00 to $33.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Citigroup decreased their target price on CSX from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Finally, Jefferies Financial Group raised shares of CSX from a "hold" rating to a "buy" rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.00.

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CSX Stock Down 1.1 %

Shares of CSX stock traded down $0.32 during trading hours on Tuesday, hitting $29.53. 10,843,082 shares of the company were exchanged, compared to its average volume of 11,743,453. The stock has a market capitalization of $55.95 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a one year low of $28.98 and a one year high of $37.40. The business's 50-day simple moving average is $31.99 and its two-hundred day simple moving average is $33.31. 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 (NASDAQ:CSX - Get Free Report) last released its earnings results 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 return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is currently 29.05%.

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.