Public Employees Retirement Association of Colorado Has $11 Million Stake in CSX Co. (NASDAQ:CSX)
Public Employees Retirement Association of Colorado trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 3.5% during the second quarter, HoldingsChannel reports. The fund owned 142,129 shares of the transportation company’s stock after selling 5,124 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CSX were worth $10,997,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. IMA Wealth Inc. acquired a new stake in CSX in the 1st quarter valued at $35,000. Destination Wealth Management acquired a new stake in CSX in the 1st quarter valued at $36,000. FNY Investment Advisers LLC acquired a new stake in CSX in the 2nd quarter valued at $36,000. Field & Main Bank acquired a new stake in CSX in the 1st quarter valued at $41,000. Finally, Acima Private Wealth LLC acquired a new stake in CSX in the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 76.74% of the company’s stock.
CSX has been the topic of several recent research reports. Credit Suisse Group lowered their price target on shares of CSX from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley lifted their price target on shares of CSX from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Stephens lowered shares of CSX from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $86.00 to $79.00 in a research note on Wednesday, July 17th. Deutsche Bank lowered their price target on shares of CSX from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Finally, TD Securities lowered their price target on shares of CSX from $81.00 to $77.00 and set a “hold” rating on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. CSX has an average rating of “Hold” and an average target price of $78.13.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the business earned $1.01 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, analysts expect that CSX Co. will post 4.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio (DPR) is presently 25.00%.
In other news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the transaction, the executive vice president now owns 79,697 shares of the company’s stock, valued at approximately $6,335,911.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.83% of the company’s stock.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
Featured Article: How Do You Calculate Return on Equity (ROE)?
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.