New York State Common Retirement Fund Sells 158,210 Shares of CSX Corporation (NASDAQ:CSX)

New York State Common Retirement Fund cut its position in CSX Corporation (NASDAQ:CSX - Free Report) by 6.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,324,075 shares of the transportation company's stock after selling 158,210 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of CSX worth $68,398,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CSX. Wellington Management Group LLP grew its stake in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after acquiring an additional 15,029 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of CSX by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after acquiring an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of CSX by 9.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after acquiring an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of CSX by 61.4% during the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after acquiring an additional 5,382 shares during the last quarter. Finally, Cercano Management LLC purchased a new stake in shares of CSX during the fourth quarter worth about $4,869,000. 73.57% of the stock is currently owned by institutional investors.

CSX Trading Up 1.7%

Shares of CSX stock opened at $34.10 on Monday. 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 has a market cap of $64.06 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.05 and a beta of 1.23. The stock has a 50 day simple moving average of $31.73 and a 200-day simple moving average of $31.09. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. On average, equities research analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, May 30th. CSX's dividend payout ratio is currently 31.14%.

Analyst Ratings Changes

A number of brokerages recently 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. Benchmark reiterated a "buy" rating and issued a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Citigroup upped their target price on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their target price on CSX from $31.00 to $34.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, BMO Capital Markets dropped their target price on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CSX presently has an average rating of "Moderate Buy" and a consensus target price of $34.64.

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.

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