Oregon Public Employees Retirement Fund Sells 1,045 Shares of CSX Co. (NASDAQ:CSX)

Oregon Public Employees Retirement Fund cut its stake in shares of CSX Co. (NASDAQ:CSX) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,872 shares of the transportation company’s stock after selling 1,045 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in CSX were worth $5,615,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of CSX during the fourth quarter valued at approximately $757,276,000. Price T Rowe Associates Inc. MD increased its stake in CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors raised its holdings in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in CSX during the second quarter worth $116,430,000. Finally, M&G Plc bought a new position in shares of CSX in the first quarter valued at $126,089,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and set a $40.00 target price on shares of CSX in a research report on Tuesday, August 6th. Susquehanna boosted their price objective on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 target price on shares of CSX in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Price Performance

CSX opened at $34.86 on Thursday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a 50-day moving average of $33.90 and a 200 day moving average of $34.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The firm has a market cap of $68.15 billion, a P/E ratio of 19.15, a PEG ratio of 1.82 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, research analysts expect that CSX Co. will post 1.94 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

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.