New York State Common Retirement Fund Cuts Stock Position in CSX Co. (NASDAQ:CSX)

New York State Common Retirement Fund lessened its stake in CSX Co. (NASDAQ:CSX - Free Report) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,482,285 shares of the transportation company's stock after selling 23,700 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of CSX worth $80,103,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in CSX by 9.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company's stock worth $11,147,000 after acquiring an additional 29,161 shares during the period. Sequoia Financial Advisors LLC increased its position in CSX by 13.4% in the third quarter. Sequoia Financial Advisors LLC now owns 114,523 shares of the transportation company's stock worth $3,954,000 after buying an additional 13,523 shares during the last quarter. Eastern Bank purchased a new stake in CSX in the third quarter worth $1,761,000. Leo Wealth LLC increased its position in CSX by 17.2% in the third quarter. Leo Wealth LLC now owns 24,998 shares of the transportation company's stock worth $863,000 after buying an additional 3,665 shares during the last quarter. Finally, Community Trust & Investment Co. increased its position in CSX by 7.7% in the third quarter. Community Trust & Investment Co. now owns 29,454 shares of the transportation company's stock worth $1,017,000 after buying an additional 2,100 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 0.5 %

Shares of NASDAQ CSX traded down $0.16 during midday trading on Friday, reaching $32.30. The company had a trading volume of 23,611,829 shares, compared to its average volume of 12,876,070. CSX Co. has a one year low of $31.43 and a one year high of $40.12. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm's fifty day moving average price is $32.63 and its 200-day moving average price is $33.77. The stock has a market cap of $62.29 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. On average, equities research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. CSX's dividend payout ratio is 26.82%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CSX shares. Royal Bank of Canada decreased their target price on CSX from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised CSX from a "hold" rating to a "buy" rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Stephens reissued an "overweight" rating and issued a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Finally, Benchmark reiterated a "buy" rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.16.

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.