Strs Ohio Buys Shares of 1,006,268 CSX Corporation $CSX

Strs Ohio bought a new stake in CSX Corporation (NASDAQ:CSX) in the 1st quarter, HoldingsChannel reports. The fund bought 1,006,268 shares of the transportation company’s stock, valued at approximately $29,614,000.

Other institutional investors also recently bought and sold shares of the company. Rossby Financial LCC acquired a new stake in CSX in the first quarter valued at approximately $28,000. Fourth Dimension Wealth LLC acquired a new stake in CSX in the fourth quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of CSX in the first quarter worth $30,000. Kessler Investment Group LLC acquired a new stake in shares of CSX during the first quarter worth $32,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of CSX by 45.8% during the first quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company’s stock worth $39,000 after buying an additional 444 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Up 2.5%

Shares of CSX stock opened at $32.85 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The firm has a fifty day moving average price of $34.28 and a 200 day moving average price of $31.64. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.25. The stock has a market cap of $61.24 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.39 and a beta of 1.25.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. Equities research analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX’s payout ratio is presently 32.10%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of CSX in a research note on Thursday, July 24th. Susquehanna reiterated a “neutral” rating and set a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. Sanford C. Bernstein reiterated a “market perform” rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. TD Cowen upgraded shares of CSX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.