CSX Co. (NASDAQ:CSX) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 942,735 shares of the transportation company’s stock after selling 124,153 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CSX were worth $34,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in shares of CSX in the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX in the 1st quarter valued at $29,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of CSX in the 4th quarter valued at $34,000. Burkett Financial Services LLC purchased a new position in CSX in the 4th quarter valued at $34,000. Finally, Avion Wealth grew its position in CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after buying an additional 820 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of a number of analyst reports. UBS Group lowered their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Susquehanna lowered their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research report on Tuesday, June 25th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday, July 8th. Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Finally, Sanford C. Bernstein lifted their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.14.

CSX Price Performance

Shares of CSX stock traded up $0.13 on Monday, hitting $34.45. The company’s stock had a trading volume of 6,311,895 shares, compared to its average volume of 11,768,881. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average price of $33.45 and a 200-day moving average price of $35.05. The company has a market capitalization of $67.35 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is 26.37%.

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.