California State Teachers Retirement System Grows Position in CSX Corporation $CSX

California State Teachers Retirement System grew its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 10.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,861,154 shares of the transportation company's stock after purchasing an additional 263,985 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of CSX worth $135,990,650 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Washington Trust Advisors Inc. increased its stake in CSX by 7.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company's stock worth $149,000 after buying an additional 211 shares during the period. Ameritas Advisory Services LLC boosted its stake in CSX by 20.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 12,298 shares of the transportation company's stock valued at $585,000 after purchasing an additional 2,057 shares during the period. Wedmont Private Capital lifted its position in shares of CSX by 8.3% in the 2nd quarter. Wedmont Private Capital now owns 19,831 shares of the transportation company's stock valued at $980,000 after acquiring an additional 1,514 shares in the last quarter. HB Wealth Management LLC grew its position in shares of CSX by 3.0% in the second quarter. HB Wealth Management LLC now owns 103,752 shares of the transportation company's stock valued at $4,931,000 after purchasing an additional 3,045 shares during the last quarter. Finally, Nilsine Partners LLC boosted its stake in CSX by 1.5% in the second quarter. Nilsine Partners LLC now owns 47,258 shares of the transportation company's stock worth $2,246,000 after purchasing an additional 714 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX stock traded down $0.07 during trading on Tuesday, hitting $48.84. 3,839,407 shares of the company's stock traded hands, compared to its average volume of 12,633,063. The business has a 50-day simple moving average of $50.23 and a 200-day simple moving average of $46.20. CSX Corporation has a 1 year low of $32.41 and a 1 year high of $53.60. The stock has a market capitalization of $90.47 billion, a P/E ratio of 28.23, a PEG ratio of 2.30 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $0.44 EPS. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX's dividend payout ratio is currently 32.37%.

Insider Buying and Selling

In related news, SVP Michael Burns sold 13,000 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Angela Williams sold 30,000 shares of CSX stock in a transaction on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer directly owned 10,437 shares of the company's stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSX. Royal Bank Of Canada restated an "outperform" rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Susquehanna upgraded shares of CSX from a "neutral" rating to a "positive" rating and upped their target price for the stock from $50.00 to $58.00 in a research note on Tuesday, July 14th. TD Cowen increased their price target on CSX from $46.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Weiss Ratings raised shares of CSX from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Stifel Nicolaus set a $54.00 price objective on CSX in a report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.31.

CSX Profile

CSX Corporation NASDAQ: CSX is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.

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