Teacher Retirement System of Texas cut its stake in shares of CSX Corp. (NASDAQ:CSX) by 5.1% during the third quarter, Holdings Channel reports. The institutional investor owned 596,438 shares of the company’s stock after selling 32,301 shares during the period. Teacher Retirement System of Texas owned about 0.06% of CSX Corp. worth $18,191,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSX. Babson Capital Management LLC boosted its stake in shares of CSX Corp. by 34.3% in the first quarter. Babson Capital Management LLC now owns 20,380 shares of the company’s stock valued at $525,000 after buying an additional 5,200 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of CSX Corp. by 81.5% in the first quarter. Squarepoint Ops LLC now owns 75,754 shares of the company’s stock valued at $1,951,000 after buying an additional 34,014 shares during the last quarter. Euclid Advisors LLC bought a new stake in shares of CSX Corp. during the first quarter valued at approximately $1,346,000. Marshwinds Advisory Co. boosted its stake in shares of CSX Corp. by 3.8% in the second quarter. Marshwinds Advisory Co. now owns 24,673 shares of the company’s stock valued at $643,000 after buying an additional 902 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new stake in shares of CSX Corp. during the second quarter valued at approximately $392,000. 68.97% of the stock is owned by institutional investors.
Shares of CSX Corp. (NASDAQ:CSX) traded down 0.700% during midday trading on Monday, reaching $34.765. The company had a trading volume of 3,644,053 shares. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $35.23. The company’s 50-day moving average is $32.07 and its 200-day moving average is $28.76. The stock has a market capitalization of $32.56 billion, a PE ratio of 19.346 and a beta of 1.11.
CSX Corp. (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The company had revenue of $2.71 billion for the quarter. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts forecast that CSX Corp. will post $1.79 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s dividend payout ratio (DPR) is 40.00%.
Several analysts recently commented on CSX shares. Atlantic Securities started coverage on CSX Corp. in a report on Thursday, August 11th. They issued a “neutral” rating and a $31.00 target price on the stock. Loop Capital reiterated a “hold” rating and issued a $31.00 target price on shares of CSX Corp. in a report on Thursday, September 1st. Barclays PLC upgraded CSX Corp. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $35.00 in a report on Monday, September 12th. Bank of America Corp. reiterated a “buy” rating and issued a $32.00 target price on shares of CSX Corp. in a report on Monday, September 12th. Finally, Citigroup Inc. upped their target price on CSX Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.45.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the sale, the president now directly owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Clarence W. Gooden sold 15,625 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $32.00, for a total value of $500,000.00. Following the completion of the sale, the president now directly owns 127,954 shares in the company, valued at $4,094,528. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
CSX Corp. Company Profile
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.