CSX Corporation (NASDAQ:CSX) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in CSX Corporation by 12.5%, owning 90,120 shares worth $2,652,000 after selling 12,820 shares in the first quarter.
• CSX recently reported a quarterly EPS of $0.44, exceeding analysts' estimates of $0.42, although it saw a 3.5% year-over-year decline in revenue.
• The firm announced a quarterly dividend of $0.13 per share, reflecting an annualized dividend yield of 1.5% with a payout ratio of 32.10%.

Maryland State Retirement & Pension System lessened its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 12.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,120 shares of the transportation company's stock after selling 12,820 shares during the period. Maryland State Retirement & Pension System's holdings in CSX were worth $2,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Ameriprise Financial Inc. boosted its holdings in shares of CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Fiduciary Management Inc. WI acquired a new position in shares of CSX in the 4th quarter valued at $178,259,000. Bank of New York Mellon Corp boosted its holdings in shares of CSX by 21.6% in the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after buying an additional 5,033,743 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of CSX by 1,283.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after buying an additional 3,887,644 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CSX in the 4th quarter valued at $117,133,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Price Performance

NASDAQ CSX traded up $0.18 during trading hours on Friday, reaching $35.43. The company's stock had a trading volume of 10,864,400 shares, compared to its average volume of 20,729,004. The stock has a market cap of $66.05 billion, a PE ratio of 21.87, a PEG ratio of 2.64 and a beta of 1.25. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company's 50-day moving average is $33.56 and its two-hundred day moving average is $31.45. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. Analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. Sanford C. Bernstein restated a "market perform" rating and issued a $36.00 target price (up previously from $33.00) on shares of CSX in a report on Tuesday, July 8th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Susquehanna reiterated a "neutral" rating and set a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company increased their price target on shares of CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.