South Dakota Investment Council Has $13.19 Million Stake in CSX Corporation (NASDAQ:CSX)

South Dakota Investment Council increased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 24.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,075 shares of the transportation company's stock after purchasing an additional 88,446 shares during the period. South Dakota Investment Council's holdings in CSX were worth $13,187,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new position in CSX during the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX during the 4th quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX in the 1st quarter valued at $30,000. Finally, Rossby Financial LCC purchased a new stake in CSX during the first quarter worth $28,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.11 on Friday, reaching $34.39. 24,854,035 shares of the company were exchanged, compared to its average volume of 13,576,402. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The firm has a market cap of $64.60 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. The company has a 50-day moving average of $32.27 and a 200-day moving average of $31.16.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The firm 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 forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio (DPR) is presently 31.14%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSX. JPMorgan Chase & Co. lifted their target price on shares of CSX from $31.00 to $34.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Barclays reissued an "overweight" rating and issued a $36.00 price target (up from $31.00) on shares of CSX in a research note on Thursday, July 10th. Jefferies Financial Group decreased their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $34.00 to $42.00 in a research report on Thursday. Finally, Baird R W upgraded shares of CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.14.

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.