Louisiana State Employees Retirement System lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 54,100 shares of the transportation company’s stock after selling 2,900 shares during the period. Louisiana State Employees Retirement System’s holdings in CSX were worth $2,976,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Nationwide Fund Advisors raised its position in shares of CSX by 4.2% during the second quarter. Nationwide Fund Advisors now owns 368,541 shares of the transportation company’s stock valued at $20,108,000 after buying an additional 14,811 shares during the last quarter. Bahl & Gaynor Inc. raised its position in shares of CSX by 17.4% during the second quarter. Bahl & Gaynor Inc. now owns 10,068 shares of the transportation company’s stock valued at $362,000 after buying an additional 1,493 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of CSX by 2.4% during the second quarter. Mutual of America Capital Management LLC now owns 112,810 shares of the transportation company’s stock valued at $6,155,000 after buying an additional 2,620 shares during the last quarter. Abbot Financial Management Inc. acquired a new position in shares of CSX during the second quarter valued at about $593,000. Finally, Pinebridge Investments L.P. raised its position in shares of CSX by 515.7% during the second quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock valued at $488,000 after buying an additional 7,483 shares during the last quarter. 70.17% of the stock is owned by institutional investors and hedge funds.
In related news, Director Gary Keith Anderson bought 5,000 shares of CSX stock in a transaction dated Friday, November 24th. The shares were bought at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is currently owned by corporate insiders.
CSX Co. (NASDAQ CSX) opened at $58.13 on Wednesday. CSX Co. has a 12-month low of $36.21 and a 12-month high of $60.04. The stock has a market cap of $52,953.09, a P/E ratio of 29.96, a PEG ratio of 1.55 and a beta of 1.35. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.05.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. CSX had a net margin of 15.45% and a return on equity of 17.28%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business earned $0.49 earnings per share. CSX’s quarterly revenue was down 5.7% on a year-over-year basis. research analysts anticipate that CSX Co. will post 2.21 EPS for the current fiscal year.
CSX declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 25th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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