California Public Employees Retirement System Has $125.74 Million Position in CSX Co. (NASDAQ:CSX)

California Public Employees Retirement System lessened its holdings in CSX Co. (NASDAQ:CSX) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,626,847 shares of the transportation company’s stock after selling 175,371 shares during the period. California Public Employees Retirement System’s holdings in CSX were worth $125,743,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in CSX in the 4th quarter worth $27,000. Life Planning Partners Inc bought a new position in CSX in the 4th quarter worth $27,000. Venturi Wealth Management LLC raised its holdings in CSX by 228.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the 4th quarter worth $34,000. Finally, Avion Wealth raised its holdings in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $34.72 on Wednesday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The firm’s 50 day moving average is $36.79 and its 200-day moving average is $34.45. The firm has a market capitalization of $67.88 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.07 and a beta of 1.18.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. CSX’s revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Susquehanna lifted their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Bank of America dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. BMO Capital Markets boosted their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Raymond James boosted their price objective on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. Finally, UBS Group dropped their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

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.