Public Employees Retirement Association of Colorado Sells 10,338 Shares of CSX Co. (NASDAQ:CSX)

Public Employees Retirement Association of Colorado trimmed its position in CSX Co. (NASDAQ:CSX) by 3.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 270,351 shares of the transportation company’s stock after selling 10,338 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CSX were worth $9,043,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after acquiring an additional 9,914,656 shares during the period. Capital International Investors grew its position in shares of CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of CSX during the 2nd quarter valued at approximately $116,430,000. M&G Plc bought a new position in shares of CSX during the 1st quarter valued at approximately $126,089,000. Finally, Wulff Hansen & CO. grew its position in shares of CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

CSX stock opened at $34.93 on Friday. The firm’s fifty day moving average price is $34.02 and its 200-day moving average price is $34.37. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The stock has a market cap of $68.29 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. On average, equities research analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CSX. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated a “sector perform” rating and set a $36.00 price target on shares of CSX in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein upped their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

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.