State of New Jersey Common Pension Fund D Sells 5,885 Shares of CSX Co. (NASDAQ:CSX)

State of New Jersey Common Pension Fund D reduced its position in CSX Co. (NASDAQ:CSX) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,143,061 shares of the transportation company’s stock after selling 5,885 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CSX were worth $39,630,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Place Capital Corp increased its holdings in shares of CSX by 12.1% in the third quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 330 shares during the last quarter. Meridian Wealth Management LLC raised its holdings in CSX by 89.8% in the 3rd quarter. Meridian Wealth Management LLC now owns 22,956 shares of the transportation company’s stock valued at $706,000 after acquiring an additional 10,862 shares during the period. CreativeOne Wealth LLC lifted its position in CSX by 255.8% during the third quarter. CreativeOne Wealth LLC now owns 74,915 shares of the transportation company’s stock worth $2,304,000 after acquiring an additional 53,857 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of CSX by 3.9% during the third quarter. Private Trust Co. NA now owns 31,047 shares of the transportation company’s stock worth $955,000 after acquiring an additional 1,160 shares during the period. Finally, Strategic Blueprint LLC grew its position in shares of CSX by 44.3% in the third quarter. Strategic Blueprint LLC now owns 10,188 shares of the transportation company’s stock valued at $313,000 after purchasing an additional 3,126 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock traded down $0.04 during trading on Friday, reaching $33.99. 10,661,942 shares of the company’s stock were exchanged, compared to its average volume of 12,369,838. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a market cap of $66.45 billion, a P/E ratio of 18.70, a PEG ratio of 2.02 and a beta of 1.18. The firm’s 50-day moving average price is $36.67 and its 200 day moving average price is $34.45.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. As a group, research analysts anticipate that CSX Co. will post 1.95 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. Shareholders of record on Thursday, February 29th were given a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CSX shares. Jefferies Financial Group dropped their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. UBS Group decreased their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Susquehanna raised their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. 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 report on Friday, April 12th. Finally, Raymond James lifted their price target on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.