Teachers Retirement System of The State of Kentucky Takes Position in CSX Co. (NASDAQ:CSX)

Teachers Retirement System of The State of Kentucky purchased a new stake in shares of CSX Co. (NASDAQ:CSX – Get Rating) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 204,302 shares of the transportation company’s stock, valued at approximately $5,443,000.

A number of other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of CSX by 80.8% in the second quarter. Renaissance Technologies LLC now owns 11,529,500 shares of the transportation company’s stock worth $335,047,000 after buying an additional 5,151,100 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of CSX by 395.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after buying an additional 4,158,204 shares during the period. First Trust Advisors LP raised its stake in shares of CSX by 104.8% in the first quarter. First Trust Advisors LP now owns 6,626,888 shares of the transportation company’s stock worth $248,177,000 after buying an additional 3,390,853 shares during the period. Point72 Asset Management L.P. raised its stake 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 worth $128,089,000 after buying an additional 3,112,926 shares during the period. Finally, Ceredex Value Advisors LLC bought a new position in shares of CSX in the third quarter worth about $45,637,000. Institutional investors own 72.91% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $28.91 on Friday. The stock has a market cap of $59.63 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 1.56. The stock has a 50 day moving average price of $31.09 and a 200-day moving average price of $30.49. CSX Co. has a one year low of $25.80 and a one year high of $38.17.

CSX (NASDAQ:CSX – Get Rating) last announced its earnings results 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 return on equity of 31.48% and a net margin of 28.05%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts expect that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a dividend of $0.11 per share. This is a positive change from CSX’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, February 27th. CSX’s dividend payout ratio (DPR) is currently 22.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CSX shares. Susquehanna raised their price objective on CSX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. Cowen increased their target price on CSX from $33.00 to $35.00 and gave the stock a “market perform” rating in a research report on Thursday, January 26th. Wells Fargo & Company increased their target price on CSX from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 4th. Benchmark cut their target price on CSX from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Finally, StockNews.com started coverage on CSX in a research report on Friday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Hold” 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.