Arizona State Retirement System Has $17.99 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Arizona State Retirement System lessened its holdings in CSX Co. (NASDAQ:CSX) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 557,399 shares of the transportation company’s stock after selling 3,126 shares during the period. Arizona State Retirement System’s holdings in CSX were worth $17,987,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its position in CSX by 20.9% in the fourth quarter. Proficio Capital Partners LLC now owns 18,257 shares of the transportation company’s stock worth $589,000 after purchasing an additional 3,159 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in CSX by 19.4% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,295,064 shares of the transportation company’s stock worth $138,602,000 after purchasing an additional 696,584 shares in the last quarter. Atria Investments Inc raised its position in CSX by 40.2% in the fourth quarter. Atria Investments Inc now owns 96,224 shares of the transportation company’s stock worth $3,105,000 after purchasing an additional 27,606 shares in the last quarter. Assetmark Inc. raised its position in CSX by 14.8% in the fourth quarter. Assetmark Inc. now owns 424,399 shares of the transportation company’s stock worth $13,695,000 after purchasing an additional 54,719 shares in the last quarter. Finally, Snider Financial Group bought a new stake in CSX during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $30.92 on Thursday. CSX Co. has a 52-week low of $30.62 and a 52-week high of $38.51. The stock has a market cap of $59.63 billion, a PE ratio of 17.27, a PEG ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm’s 50 day moving average price is $32.53 and its two-hundred day moving average price is $33.66.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.68%. CSX’s dividend payout ratio (DPR) is 29.05%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSX. Citigroup decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 10th. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Robert W. Baird decreased their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

About CSX

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.