State of Tennessee Department of Treasury Sells 41,965 Shares of CSX Co. (NASDAQ:CSX)

State of Tennessee Department of Treasury lowered its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 797,636 shares of the transportation company's stock after selling 41,965 shares during the quarter. State of Tennessee Department of Treasury's holdings in CSX were worth $25,740,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Joel Isaacson & Co. LLC grew its holdings in shares of CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock valued at $421,000 after buying an additional 310 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock valued at $1,027,000 after buying an additional 313 shares during the period. West Branch Capital LLC grew its holdings in shares of CSX by 3.3% in the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company's stock valued at $333,000 after buying an additional 332 shares during the period. Alhambra Investment Management LLC grew its holdings in shares of CSX by 4.3% in the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company's stock valued at $268,000 after buying an additional 342 shares during the period. Finally, Trust Point Inc. grew its holdings in shares of CSX by 2.6% in the 4th quarter. Trust Point Inc. now owns 13,722 shares of the transportation company's stock valued at $443,000 after buying an additional 344 shares during the period. Institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America decreased their price target on shares of CSX from $33.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Loop Capital lowered shares of CSX from a "buy" rating to a "hold" rating and reduced their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Robert W. Baird reduced their target price on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Stephens reaffirmed an "overweight" rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.95.

CSX Stock Performance

NASDAQ:CSX traded down $0.30 during mid-day trading on Friday, hitting $27.84. The stock had a trading volume of 14,351,235 shares, compared to its average volume of 12,703,603. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. The stock has a market cap of $52.30 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.92 and a beta of 1.23. The company's 50 day simple moving average is $29.52 and its 200 day simple moving average is $32.25. 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 issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. On average, equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This is a boost from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, February 28th. CSX's dividend payout ratio is currently 31.14%.

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.