Change Path LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 34.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,945 shares of the transportation company’s stock after selling 6,922 shares during the period. Change Path LLC’s holdings in CSX were worth $804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital World Investors increased its stake in CSX by 1,080.6% during the third quarter. Capital World Investors now owns 29,751,204 shares of the transportation company’s stock worth $2,203,077,000 after purchasing an additional 27,231,204 shares during the period. Oregon Public Employees Retirement Fund increased its stake in CSX by 11,871.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock worth $185,000 after purchasing an additional 11,390,771 shares during the period. Janus Henderson Group PLC increased its stake in CSX by 33.7% during the third quarter. Janus Henderson Group PLC now owns 12,600,194 shares of the transportation company’s stock worth $933,045,000 after purchasing an additional 3,178,806 shares during the period. Morgan Stanley increased its stake in CSX by 38.8% during the third quarter. Morgan Stanley now owns 8,803,609 shares of the transportation company’s stock worth $651,908,000 after purchasing an additional 2,462,931 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in CSX by 123.5% during the third quarter. PNC Financial Services Group Inc. now owns 2,505,665 shares of the transportation company’s stock worth $185,545,000 after purchasing an additional 1,384,533 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

A number of brokerages have issued reports on CSX. Deutsche Bank boosted their price target on shares of CSX from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 3rd. Zacks Investment Research upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Wednesday, February 27th. Royal Bank of Canada lowered shares of CSX from an “outperform” rating to a “sector perform” rating and set a $78.00 price target on the stock. in a research note on Tuesday, February 19th. Stifel Nicolaus lowered shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research note on Wednesday, March 6th. Finally, ValuEngine lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $75.69.

In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total value of $125,489,973.18. Following the completion of the transaction, the director now directly owns 106 shares of the company’s stock, valued at $6,891.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.03% of the company’s stock.

Shares of CSX opened at $73.00 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20. The company has a market capitalization of $59.45 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. CSX Co. has a 52-week low of $53.53 and a 52-week high of $76.24.

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, meeting the Zacks’ consensus estimate of $1.01. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.12 billion. CSX had a return on equity of 24.18% and a net margin of 27.01%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts predict that CSX Co. will post 4.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. This is an increase from CSX’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 27th. CSX’s dividend payout ratio is 25.00%.

CSX declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 16th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares repurchase plans are typically 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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