New York State Common Retirement Fund Cuts Stake in CSX Co. (NASDAQ:CSX)

New York State Common Retirement Fund lowered its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,068,014 shares of the transportation company's stock after selling 225,454 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of CSX worth $106,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of CSX during the 4th quarter worth approximately $27,000. Life Planning Partners Inc acquired a new position in CSX during the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in CSX during the 4th quarter worth approximately $34,000. Venturi Wealth Management LLC increased its position in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company's stock worth $31,000 after purchasing an additional 692 shares in the last quarter. Finally, Avion Wealth increased its position in CSX by 450.5% during the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company's stock worth $35,000 after purchasing an additional 820 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Stock Up 0.3 %

Shares of CSX stock traded up $0.10 on Tuesday, hitting $34.72. The stock had a trading volume of 19,272,497 shares, compared to its average volume of 12,250,447. The business has a 50 day moving average of $36.83 and a 200 day moving average of $34.43. The stock has a market cap of $67.88 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. This is an increase from CSX's previous quarterly dividend of $0.11. CSX's dividend payout ratio is currently 26.37%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a "sector perform" rating for the company in a research report on Thursday, April 18th. BMO Capital Markets upped their price target on shares of CSX from $37.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a "hold" rating for the company in a research report on Thursday, April 18th. Bank of America decreased their price objective on shares of CSX from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, April 18th. Finally, Susquehanna increased their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a "positive" rating in a research report on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.00.

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.