CSX Co. (NASDAQ:CSX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in shares of CSX Co. (NASDAQ:CSX) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,143,061 shares of the transportation company’s stock after selling 5,885 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of CSX worth $39,630,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Syon Capital LLC lifted its holdings in shares of CSX by 8.7% during the 4th quarter. Syon Capital LLC now owns 23,505 shares of the transportation company’s stock worth $815,000 after acquiring an additional 1,875 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of CSX by 3.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 42,426 shares of the transportation company’s stock valued at $1,471,000 after purchasing an additional 1,320 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of CSX by 1.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 87,117 shares of the transportation company’s stock valued at $3,020,000 after purchasing an additional 1,341 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of CSX by 10.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 17,365 shares of the transportation company’s stock worth $564,000 after acquiring an additional 1,576 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in CSX in the 4th quarter worth approximately $428,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ:CSX traded down $0.04 during mid-day trading on Friday, hitting $33.99. 10,661,942 shares of the company’s stock traded hands, compared to its average volume of 12,369,838. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The firm has a 50 day moving average of $36.67 and a two-hundred day moving average of $34.45. The firm has a market capitalization of $66.45 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 2.02 and a beta of 1.18. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the business posted $0.48 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CSX shares. BMO Capital Markets lifted their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. TD Cowen lifted their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Jefferies Financial Group reduced their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Susquehanna raised their price objective on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. Finally, Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.