CSX Co. (NASDAQ:CSX) Position Lessened by New York State Teachers Retirement System

Posted by Defense World Staff on Apr 10th, 2023

New York State Teachers Retirement System lowered its position in CSX Co. (NASDAQ:CSX – Get Rating) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,298,370 shares of the transportation company’s stock after selling 77,215 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of CSX worth $71,204,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of CSX by 395.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after acquiring an additional 4,158,204 shares in the last quarter. First Trust Advisors LP grew its holdings in CSX by 104.8% during the first quarter. First Trust Advisors LP now owns 6,626,888 shares of the transportation company’s stock valued at $248,177,000 after purchasing an additional 3,390,853 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of CSX by 183.6% in the third quarter. Point72 Asset Management L.P. now owns 4,808,127 shares of the transportation company’s stock valued at $128,089,000 after purchasing an additional 3,112,926 shares during the period. Cottage Street Advisors LLC lifted its stake in shares of CSX by 2,349.1% in the fourth quarter. Cottage Street Advisors LLC now owns 2,947,218 shares of the transportation company’s stock worth $901,000 after buying an additional 2,826,878 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in CSX in the 3rd quarter valued at $45,637,000. 72.91% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

Shares of CSX stock opened at $30.02 on Monday. The stock’s fifty day moving average is $30.30 and its 200-day moving average is $30.28. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 1.56. CSX Co. has a 52 week low of $25.80 and a 52 week high of $38.17. The stock has a market capitalization of $61.58 billion, a PE ratio of 15.47, a PEG ratio of 2.33 and a beta of 1.22.

CSX (NASDAQ:CSX – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. CSX had a net margin of 28.05% and a return on equity of 31.48%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that CSX Co. will post 1.87 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, February 27th. This is a boost from CSX’s previous quarterly dividend of $0.10. CSX’s payout ratio is 22.68%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CSX shares. Morgan Stanley raised shares of CSX from an “underweight” rating to an “equal weight” rating and set a $24.00 target price for the company in a research report on Tuesday, April 4th. Benchmark decreased their target price on CSX from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, January 26th. Susquehanna lifted their price target on CSX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Wells Fargo & Company increased their price objective on CSX from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 4th. Finally, Cowen raised their price objective on shares of CSX from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, January 26th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.39.

CSX Company Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.