California State Teachers Retirement System lowered its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,442,599 shares of the transportation company’s stock after selling 50,932 shares during the quarter. California State Teachers Retirement System owned 0.16% of CSX worth $79,357,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in CSX. First Command Financial Services Inc. lifted its holdings in shares of CSX by 130.0% in the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,200 shares during the last quarter. Prentiss Smith & Co. Inc. bought a new stake in shares of CSX in the 4th quarter worth about $119,000. Icon Wealth Partners LLC bought a new stake in shares of CSX in the 4th quarter worth about $126,000. Front Row Advisors LLC bought a new stake in shares of CSX in the 4th quarter worth about $135,000. Finally, IFG Advisory LLC bought a new stake in shares of CSX in the 4th quarter worth about $355,000. Institutional investors and hedge funds own 75.67% of the company’s stock.
Shares of CSX Co. (NASDAQ:CSX) opened at $57.59 on Tuesday. CSX Co. has a twelve month low of $45.41 and a twelve month high of $60.04. The firm has a market cap of $51,459.69, a PE ratio of 25.22, a P/E/G ratio of 1.40 and a beta of 1.27. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a dividend of $0.22 per share. This is an increase from CSX’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. CSX’s dividend payout ratio (DPR) is 14.50%.
CSX declared that its board has approved a share repurchase plan on Monday, February 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Royal Bank of Canada raised their target price on shares of CSX from $59.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and issued a $59.00 target price on shares of CSX in a report on Tuesday, January 9th. Scotiabank lowered shares of CSX from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $63.00 to $43.00 in a report on Friday, January 12th. Finally, TD Securities raised their target price on shares of CSX from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $60.71.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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