Public Employees Retirement System of Ohio Sells 50,251 Shares of CSX Co. (NASDAQ:CSX)

Public Employees Retirement System of Ohio lowered its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 830,070 shares of the transportation company's stock after selling 50,251 shares during the period. Public Employees Retirement System of Ohio's holdings in CSX were worth $26,786,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX during the fourth quarter worth $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new position in CSX during the fourth quarter worth about $31,000. Finally, Sierra Ocean LLC acquired a new stake in shares of CSX during the fourth quarter worth approximately $33,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX traded up $0.61 on Tuesday, reaching $31.43. The company had a trading volume of 17,929,407 shares, compared to its average volume of 12,963,960. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The stock has a market cap of $59.04 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.92 and a beta of 1.22. The company's fifty day moving average is $28.92 and its 200 day moving average is $31.59. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, May 30th. CSX's dividend payout ratio is currently 31.14%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday, March 7th. They issued a "hold" rating and a $34.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Stifel Nicolaus lowered their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. BMO Capital Markets lowered their target price on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Raymond James reaffirmed an "outperform" rating and set a $33.00 target price (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and an average price target of $33.90.

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.