New York State Teachers Retirement System decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 5.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,163,025 shares of the transportation company’s stock after selling 66,017 shares during the quarter. New York State Teachers Retirement System’s holdings in CSX were worth $87,018,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in CSX by 2.3% in the 4th quarter. BlackRock Inc. now owns 49,404,831 shares of the transportation company’s stock worth $3,069,519,000 after purchasing an additional 1,127,467 shares in the last quarter. FMR LLC raised its stake in CSX by 14.1% in the 4th quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock worth $1,438,997,000 after purchasing an additional 2,867,186 shares in the last quarter. Janus Henderson Group PLC raised its stake in CSX by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 12,929,434 shares of the transportation company’s stock worth $967,382,000 after purchasing an additional 60,234 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in CSX by 11,871.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock worth $185,000 after purchasing an additional 11,390,771 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in CSX by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after purchasing an additional 646,745 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
In related news, VP Angela C. Williams sold 9,560 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $79.14, for a total transaction of $756,578.40. Following the completion of the transaction, the vice president now directly owns 14,607 shares in the company, valued at approximately $1,155,997.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.83% of the stock is owned by corporate insiders.
Shares of NASDAQ:CSX traded up $0.62 during midday trading on Thursday, hitting $78.01. The stock had a trading volume of 104,851 shares, compared to its average volume of 4,726,656. The stock has a market capitalization of $63.31 billion, a PE ratio of 20.29, a PEG ratio of 1.31 and a beta of 1.29. CSX Co. has a fifty-two week low of $58.47 and a fifty-two week high of $80.73. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 1.27.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, April 16th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.11. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. CSX had a net margin of 27.84% and a return on equity of 26.13%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. On average, research analysts predict that CSX Co. will post 4.34 EPS for the current fiscal year.
CSX declared that its board has initiated a share buyback program on Wednesday, January 16th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the transportation company to repurchase up to 9.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, May 30th. CSX’s dividend payout ratio is 25.00%.
CSX has been the subject of several analyst reports. Loop Capital lifted their price objective on shares of CSX to $87.00 and gave the stock a “buy” rating in a research note on Thursday, January 17th. Zacks Investment Research cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. Argus reiterated a “buy” rating and issued a $71.00 price objective on shares of CSX in a research note on Friday, January 18th. Royal Bank of Canada dropped their target price on shares of CSX to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 17th. Finally, ValuEngine cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $79.58.
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CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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