New York State Common Retirement Fund Sells 201,100 Shares of CSX Co. (NASDAQ:CSX)

New York State Common Retirement Fund lessened its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,505,985 shares of the transportation company's stock after selling 201,100 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of CSX worth $86,532,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CSX. Interval Partners LP boosted its stake in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company's stock valued at $171,222,000 after purchasing an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in CSX during the 2nd quarter worth approximately $116,430,000. M&G Plc bought a new position in CSX during the 1st quarter worth approximately $126,089,000. Assenagon Asset Management S.A. boosted its stake in CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company's stock worth $112,946,000 after acquiring an additional 2,489,329 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its stake in CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company's stock worth $73,331,000 after acquiring an additional 2,126,668 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CSX shares. Royal Bank of Canada reduced their price objective on shares of CSX from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 17th. TD Cowen reduced their price objective on shares of CSX from $36.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, October 17th. Bank of America lowered shares of CSX from a "buy" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a research note on Monday, July 8th. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the company a "market perform" rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CSX from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average price target of $38.61.

CSX Stock Performance

CSX stock traded down $0.25 during midday trading on Friday, reaching $33.39. 11,062,324 shares of the company were exchanged, compared to its average volume of 11,638,499. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The business has a 50-day moving average price of $34.01 and a two-hundred day moving average price of $33.79. CSX Co. has a one year low of $29.64 and a one year high of $40.12. The firm has a market capitalization of $64.39 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the firm earned $0.42 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts forecast that CSX Co. will post 1.86 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. CSX's dividend payout ratio (DPR) is 25.81%.

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.