Arizona State Retirement System Grows Stake in CSX Corporation (NASDAQ:CSX)

Arizona State Retirement System lifted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 565,850 shares of the transportation company's stock after acquiring an additional 8,451 shares during the period. Arizona State Retirement System's holdings in CSX were worth $16,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after buying an additional 849 shares during the last quarter. Proficio Capital Partners LLC raised its position in CSX by 20.9% in the fourth quarter. Proficio Capital Partners LLC now owns 18,257 shares of the transportation company's stock valued at $589,000 after purchasing an additional 3,159 shares during the period. EverSource Wealth Advisors LLC raised its position in CSX by 16.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 12,196 shares of the transportation company's stock valued at $394,000 after purchasing an additional 1,705 shares during the period. Farther Finance Advisors LLC raised its position in CSX by 6.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,772 shares of the transportation company's stock valued at $283,000 after purchasing an additional 518 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in CSX by 13.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 180,710 shares of the transportation company's stock valued at $5,832,000 after purchasing an additional 20,811 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSX. Robert W. Baird began coverage on CSX in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $38.00 target price on the stock. Bank of America lifted their target price on CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Royal Bank Of Canada cut their price objective on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. BMO Capital Markets cut their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, UBS Group cut their price objective on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.82.

CSX Stock Down 0.7%

Shares of CSX traded down $0.22 during mid-day trading on Wednesday, reaching $33.26. The company's stock had a trading volume of 11,485,306 shares, compared to its average volume of 13,414,364. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The stock has a market cap of $62.48 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 3.04 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The company's 50 day moving average is $31.95 and its 200 day moving average is $31.12.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. Equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. CSX's payout ratio is 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.