California State Teachers Retirement System Has $6.46 Billion Stake in CSX Corporation $CSX

California State Teachers Retirement System raised its stake in shares of CSX Corporation (NASDAQ:CSX) by 5,136.1% in the 2nd quarter, Holdings Channel reports. The firm owned 135,990,650 shares of the transportation company’s stock after purchasing an additional 133,393,481 shares during the quarter. California State Teachers Retirement System owned 0.07% of CSX worth $6,463,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Archer Investment Corp bought a new stake in shares of CSX in the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the second quarter valued at about $27,000. WFA of San Diego LLC bought a new position in shares of CSX during the second quarter worth about $28,000. Pin Oak Investment Advisors Inc. bought a new position in shares of CSX during the second quarter worth about $29,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of CSX during the second quarter worth about $30,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

CSX Trading Down 1.3%

CSX opened at $48.37 on Thursday. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The company has a market cap of $89.60 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. The company has a fifty day moving average price of $50.22 and a two-hundred day moving average price of $46.05.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. Analysts predict that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is 32.37%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America upped their target price on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price target on shares of CSX in a report on Thursday, July 23rd. Evercore set a $51.00 price target on shares of CSX in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, TD Cowen upped their price objective on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Company Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.