Public Sector Pension Investment Board Purchases 22,367 Shares of CSX Corporation (NASDAQ:CSX)

Public Sector Pension Investment Board grew its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 262,505 shares of the transportation company's stock after acquiring an additional 22,367 shares during the period. Public Sector Pension Investment Board's holdings in CSX were worth $7,726,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in shares of CSX by 89.7% during the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after buying an additional 9,863,587 shares during the period. Nuveen LLC acquired a new stake in CSX in the first quarter worth $182,550,000. Fiduciary Management Inc. WI acquired a new stake in CSX in the fourth quarter worth $178,259,000. Bank of New York Mellon Corp grew its holdings in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after purchasing an additional 5,033,743 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in CSX by 1,283.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock worth $123,786,000 after purchasing an additional 3,887,644 shares during the period. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 0.1%

Shares of CSX stock traded down $0.03 during trading on Friday, reaching $36.32. The company's stock had a trading volume of 17,898,133 shares, compared to its average volume of 21,141,444. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a market cap of $67.71 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.71 and a beta of 1.25. The firm's 50-day moving average is $33.98 and its two-hundred day moving average is $31.56. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The firm's revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio is currently 32.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Benchmark raised their price target on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Raymond James Financial raised their price target on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a report on Thursday, July 24th. Barclays raised their price target on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Seven investment 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. According to data from MarketBeat.com, CSX presently has an average 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.