CSX Co. (NASDAQ:CSX) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its position in CSX Co. (NASDAQ:CSX) by 90.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,356 shares of the transportation company’s stock after selling 1,067,616 shares during the period. Teacher Retirement System of Texas’ holdings in CSX were worth $3,690,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Diversified Trust Co lifted its position in CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of CSX during the 4th quarter valued at $1,084,000. Carnegie Investment Counsel lifted its holdings in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares during the period. Finally, Waycross Partners LLC increased its holdings in CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CSX shares. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company. Wells Fargo & Company decreased their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Citigroup dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Finally, Raymond James reaffirmed an “outperform” rating and set a $37.00 price target (down previously from $38.00) 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 given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

CSX Stock Performance

CSX stock opened at $29.85 on Tuesday. The company has a market cap of $56.55 billion, a PE ratio of 16.68, a P/E/G ratio of 1.92 and a beta of 1.25. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.40. The company has a fifty day moving average price of $31.99 and a two-hundred day moving average price of $33.31. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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%. Research analysts expect 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. Investors of record on Friday, February 28th were issued a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. CSX’s dividend payout ratio (DPR) is 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.