Louisiana State Employees Retirement System decreased its stake in CSX Co. (NASDAQ:CSX) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,900 shares of the transportation company’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in CSX were worth $3,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Manhattan Co. grew its holdings in shares of CSX by 0.5% during the first quarter. First Manhattan Co. now owns 106,032 shares of the transportation company’s stock valued at $7,933,000 after buying an additional 550 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in CSX during the first quarter valued at $2,977,000. Truvestments Capital LLC acquired a new stake in shares of CSX in the first quarter worth about $754,000. Malaga Cove Capital LLC acquired a new stake in shares of CSX in the first quarter worth about $652,000. Finally, Pathway Financial Advisors LLC acquired a new stake in shares of CSX in the first quarter worth about $217,000. 77.35% of the stock is currently owned by institutional investors and hedge funds.

In other CSX news, Director Ridge Lp Mantle sold 1,930,318 shares of the firm’s stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the completion of the sale, the director now directly owns 106 shares in the company, valued at approximately $6,891.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.83% of the company’s stock.

A number of analysts have weighed in on CSX shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $82.00 price target on shares of CSX in a research report on Monday, December 17th. Argus lowered their price target on CSX from $84.00 to $71.00 and set a “buy” rating on the stock in a research note on Monday, December 31st. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Thursday, January 3rd. Loop Capital boosted their price target on CSX to $87.00 and gave the company a “buy” rating in a research note on Thursday, January 17th. Finally, ValuEngine upgraded CSX from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $75.64.

Shares of CSX stock traded down $0.63 on Monday, hitting $76.03. 84,549 shares of the company’s stock traded hands, compared to its average volume of 4,406,471. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.34. CSX Co. has a one year low of $55.39 and a one year high of $77.15. The firm has a market cap of $62.30 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.34 and a beta of 1.29.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. CSX had a net margin of 27.01% and a return on equity of 24.18%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that CSX Co. will post 4.22 EPS for the current year.

CSX announced that its Board of Directors has approved a share repurchase program on Wednesday, January 16th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to repurchase up to 9.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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