New Mexico Educational Retirement Board Sells 3,200 Shares of CSX Co. (NASDAQ:CSX)

New Mexico Educational Retirement Board lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,418 shares of the transportation company’s stock after selling 3,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in CSX were worth $2,982,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. lifted its holdings in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in CSX during the third quarter valued at about $31,000. Addison Advisors LLC lifted its holdings in CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in CSX by 43.4% during the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 336 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in CSX during the fourth quarter valued at about $41,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.8 %

Shares of NASDAQ:CSX opened at $33.37 on Friday. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The firm has a fifty day moving average of $32.72 and a 200 day moving average of $33.82. The firm has a market capitalization of $64.35 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 1.91 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.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.56%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. CSX’s dividend payout ratio is presently 26.82%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several recent research reports. Robert W. Baird dropped their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada lowered their price target on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and issued a $38.00 price target on shares of CSX in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price 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.