Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 47,350 Shares of CSX Co. (NASDAQ:CSX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in CSX Co. (NASDAQ:CSX) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,721,585 shares of the transportation company’s stock after selling 47,350 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.14% of CSX worth $87,826,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the fourth quarter worth about $31,000. Sierra Ocean LLC purchased a new stake in shares of CSX during the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. boosted its position in shares of CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 720 shares during the last quarter. Atala Financial Inc purchased a new position in shares of CSX in the fourth quarter valued at $36,000. Finally, Synergy Asset Management LLC bought a new stake in CSX in the fourth quarter worth $41,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 10th. Susquehanna dropped their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $30.07 on Thursday. The firm’s 50 day simple moving average is $32.12 and its 200-day simple moving average is $33.41. 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 Co. has a one year low of $28.98 and a one year high of $38.03. The firm has a market cap of $56.97 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. CSX’s dividend payout ratio (DPR) is 29.05%.

CSX Company 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.