New Mexico Educational Retirement Board Buys 23,200 Shares of CSX Co. (NASDAQ:CSX)

New Mexico Educational Retirement Board raised its stake in shares of CSX Co. (NASDAQ:CSX) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,018 shares of the transportation company’s stock after acquiring an additional 23,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in CSX were worth $4,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Criterion Capital Advisors LLC lifted its position in CSX by 16.8% during the 1st quarter. Criterion Capital Advisors LLC now owns 29,010 shares of the transportation company’s stock worth $1,075,000 after acquiring an additional 4,178 shares during the period. OneAscent Financial Services LLC lifted its position in CSX by 22.0% during the 1st quarter. OneAscent Financial Services LLC now owns 14,633 shares of the transportation company’s stock worth $542,000 after acquiring an additional 2,638 shares during the period. OneAscent Wealth Management LLC lifted its position in CSX by 49.4% during the 1st quarter. OneAscent Wealth Management LLC now owns 12,992 shares of the transportation company’s stock worth $482,000 after acquiring an additional 4,298 shares during the period. Atlantic Union Bankshares Corp lifted its position in CSX by 2.4% during the 1st quarter. Atlantic Union Bankshares Corp now owns 117,137 shares of the transportation company’s stock worth $4,342,000 after acquiring an additional 2,736 shares during the period. Finally, Register Financial Advisors LLC acquired a new stake in CSX during the 1st quarter worth about $97,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CSX. Bank of America reduced their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada reduced their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. UBS Group reduced their price objective on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Finally, Susquehanna reduced their price objective on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.59.

CSX Price Performance

NASDAQ:CSX traded up $0.42 during trading hours on Friday, hitting $33.45. 15,864,930 shares of the stock were exchanged, compared to its average volume of 11,233,274. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm’s fifty day moving average price is $33.46 and its 200 day moving average price is $35.13. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The company has a market cap of $65.39 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.71 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities research analysts anticipate that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio is currently 26.37%.

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.