Strs Ohio Sells 25,425 Shares of CSX Co. (NASDAQ:CSX)

Strs Ohio reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 4.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 582,596 shares of the transportation company’s stock after selling 25,425 shares during the period. Strs Ohio’s holdings in CSX were worth $20,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Glassy Mountain Advisors Inc. boosted its holdings in CSX by 3.4% in the 4th quarter. Glassy Mountain Advisors Inc. now owns 104,127 shares of the transportation company’s stock worth $3,610,000 after buying an additional 3,454 shares during the period. Carnegie Capital Asset Management LLC boosted its holdings in CSX by 4.0% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 549,724 shares of the transportation company’s stock worth $19,059,000 after buying an additional 21,203 shares during the period. Lecap Asset Management Ltd. bought a new position in CSX in the 4th quarter worth approximately $843,000. Romano Brothers AND Company bought a new position in CSX in the 4th quarter worth approximately $222,000. Finally, Capital Advisors Inc. OK bought a new position in CSX in the 4th quarter worth approximately $303,000. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on CSX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of CSX in a report on Thursday, January 25th. Raymond James increased their target price on shares of CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. lowered their target price on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Finally, Stifel Nicolaus increased their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $37.28.

CSX Price Performance

CSX stock opened at $34.84 on Wednesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The firm’s fifty day moving average is $37.04 and its 200 day moving average is $34.32. The firm has a market cap of $68.20 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.04 and a beta of 1.18.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. Research analysts predict that CSX Co. will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced 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 positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. CSX’s payout ratio is presently 26.09%.

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.