New York State Common Retirement Fund Trims Stock Position in CSX Co. (NASDAQ:CSX)

New York State Common Retirement Fund lowered its holdings in shares of CSX Co. (NASDAQ:CSX) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,482,285 shares of the transportation company’s stock after selling 23,700 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of CSX worth $80,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Waycross Partners LLC increased its holdings in CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after acquiring an additional 40,611 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in CSX in the 4th quarter worth approximately $75,000. Atria Wealth Solutions Inc. increased its holdings in CSX by 28.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 75,679 shares of the transportation company’s stock worth $2,442,000 after acquiring an additional 16,551 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in CSX by 17.5% in the 4th quarter. Venturi Wealth Management LLC now owns 14,978 shares of the transportation company’s stock worth $483,000 after acquiring an additional 2,233 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in CSX by 0.6% in the 4th quarter. Truist Financial Corp now owns 1,365,246 shares of the transportation company’s stock worth $44,056,000 after acquiring an additional 7,921 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CSX. BMO Capital Markets dropped their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company dropped their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Citigroup dropped their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Raymond James restated an “outperform” rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Stock Down 3.7 %

NASDAQ CSX opened at $32.41 on Thursday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a fifty day moving average of $32.67 and a two-hundred day moving average of $33.78. The firm has a market capitalization of $62.50 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.97 and a beta of 1.23. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12.

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

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.60%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is presently 29.05%.

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.