CSX Co. (NASDAQ:CSX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in shares of CSX Co. (NASDAQ:CSX) by 6.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,175,811 shares of the transportation company’s stock after selling 229,510 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of CSX worth $102,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Life Planning Partners Inc acquired a new stake in shares of CSX during the fourth quarter valued at $780,000. Schroder Investment Management Group lifted its holdings in CSX by 6.1% in the 4th quarter. Schroder Investment Management Group now owns 5,280,593 shares of the transportation company’s stock valued at $170,405,000 after purchasing an additional 305,722 shares in the last quarter. Allianz SE acquired a new stake in shares of CSX during the 4th quarter worth about $6,787,000. Transamerica Financial Advisors Inc. grew its holdings in shares of CSX by 100.7% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 3,834 shares of the transportation company’s stock worth $124,000 after buying an additional 1,924 shares in the last quarter. Finally, Allstate Corp acquired a new position in shares of CSX in the fourth quarter valued at approximately $1,857,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $29.43 on Tuesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1-year low of $28.98 and a 1-year high of $37.10. The company has a market capitalization of $55.47 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.92 and a beta of 1.25. The business has a 50-day moving average of $31.68 and a 200-day moving average of $33.17.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. On average, equities analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.77%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Susquehanna lowered their price objective on CSX from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. reduced their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Raymond James restated an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Finally, Barclays cut their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.75.

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.