CSX Co. (NASDAQ:CSX) Stock Position Lessened by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 797,636 shares of the transportation company’s stock after selling 41,965 shares during the period. State of Tennessee Department of Treasury’s holdings in CSX were worth $25,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CSX. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of CSX during the 4th quarter valued at $4,147,000. Tower Research Capital LLC TRC lifted its holdings in shares of CSX by 95.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 147,628 shares of the transportation company’s stock valued at $4,764,000 after buying an additional 72,086 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in CSX by 219.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company’s stock valued at $34,000 after buying an additional 714 shares in the last quarter. Landing Point Financial Group LLC acquired a new position in CSX during the fourth quarter worth about $639,000. Finally, MML Investors Services LLC raised its position in CSX by 3.6% in the fourth quarter. MML Investors Services LLC now owns 534,116 shares of the transportation company’s stock worth $17,236,000 after acquiring an additional 18,384 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSX. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective on the stock. Jefferies Financial Group dropped their price target on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada reduced their price objective on CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a research note on Thursday, April 17th. Evercore ISI decreased their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, UBS Group reduced their target price on CSX from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.95.

CSX Stock Down 0.8 %

CSX stock opened at $27.46 on Tuesday. The firm’s 50 day moving average price is $29.96 and its two-hundred day moving average price is $32.43. The firm has a market cap of $51.76 billion, a PE ratio of 15.34, a P/E/G ratio of 1.92 and a beta of 1.23. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. 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 (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. On average, research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.89%. CSX’s payout ratio is presently 31.14%.

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.