State of New Jersey Common Pension Fund D Sells 2,991 Shares of CSX Co. (NASDAQ:CSX)

State of New Jersey Common Pension Fund D reduced its stake in CSX Co. (NASDAQ:CSX) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 705,366 shares of the transportation company’s stock after selling 2,991 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CSX were worth $22,762,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CSX. Mirae Asset Global Investments Co. Ltd. grew its holdings in CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after buying an additional 80,423 shares in the last quarter. Diversified Trust Co lifted its position in CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the period. Marshall Financial Group LLC acquired a new stake in CSX during the fourth quarter worth about $1,084,000. Thrivent Financial for Lutherans grew its stake in CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after buying an additional 24,430 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its position in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after acquiring an additional 8,474 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $33.37 on Tuesday. The firm has a market capitalization of $64.35 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.91 and a beta of 1.23. The firm’s 50-day moving average price is $32.72 and its 200-day moving average price is $33.80. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities research analysts anticipate that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. CSX’s dividend payout ratio is 26.82%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CSX shares. BMO Capital Markets cut their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada reduced their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Barclays dropped their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Benchmark reiterated a “buy” rating and set a $38.00 price target on shares of CSX in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

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.