California Public Employees Retirement System Reduces Holdings in CSX Co. (NASDAQ:CSX)

California Public Employees Retirement System lowered its position in CSX Co. (NASDAQ:CSX - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,626,847 shares of the transportation company's stock after selling 175,371 shares during the period. California Public Employees Retirement System owned 0.18% of CSX worth $125,743,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Sage Mountain Advisors LLC raised its stake in shares of CSX by 6.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 8,081 shares of the transportation company's stock valued at $280,000 after acquiring an additional 490 shares during the last quarter. Jennison Associates LLC raised its stake in shares of CSX by 13.0% in the fourth quarter. Jennison Associates LLC now owns 114,675 shares of the transportation company's stock valued at $3,976,000 after acquiring an additional 13,159 shares during the last quarter. MCF Advisors LLC raised its stake in shares of CSX by 85.4% in the fourth quarter. MCF Advisors LLC now owns 9,999 shares of the transportation company's stock valued at $347,000 after acquiring an additional 4,606 shares during the last quarter. Brendel Financial Advisors LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $205,000. Finally, Klingenstein Fields & Co. LP acquired a new stake in shares of CSX in the fourth quarter valued at approximately $642,000. Institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CSX. Royal Bank of Canada lowered their price target on shares of CSX from $37.00 to $36.00 and set a "sector perform" rating for the company in a report on Thursday, April 18th. StockNews.com lowered shares of CSX from a "buy" rating to a "hold" rating in a report on Wednesday, January 31st. UBS Group lowered their price target on shares of CSX from $46.00 to $44.00 and set a "buy" rating for the company in a report on Thursday, April 18th. Jefferies Financial Group lowered their price target on shares of CSX from $40.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, April 18th. Finally, Stifel Nicolaus raised their price target on shares of CSX from $37.00 to $39.00 and gave the company a "buy" rating in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

CSX Price Performance

Shares of NASDAQ CSX traded down $1.05 during trading hours on Wednesday, hitting $33.67. 23,764,738 shares of the stock were exchanged, compared to its average volume of 12,396,069. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The company has a market cap of $65.82 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The company's fifty day simple moving average is $36.79 and its two-hundred day simple moving average is $34.45. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

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

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Wednesday, February 28th. This is a positive change from CSX's previous quarterly dividend of $0.11. CSX's payout ratio is 26.37%.

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.