Orrstown Financial Services Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,098 shares of the transportation company’s stock after selling 2,162 shares during the period. Orrstown Financial Services Inc.’s holdings in CSX were worth $886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Command Financial Services Inc. grew its position in CSX by 130.0% during the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,200 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in CSX during the 3rd quarter worth approximately $308,000. Valeo Financial Advisors LLC bought a new stake in CSX during the 3rd quarter worth approximately $196,000. Laurel Wealth Advisors Inc. bought a new stake in CSX during the 2nd quarter worth approximately $226,000. Finally, Sterling Capital Management LLC grew its position in CSX by 32.0% during the 3rd quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock worth $319,000 after acquiring an additional 1,423 shares during the last quarter. Institutional investors and hedge funds own 70.17% of the company’s stock.

CSX Co. (NASDAQ CSX) traded down $1.12 during mid-day trading on Tuesday, hitting $58.13. The stock had a trading volume of 10,052,535 shares, compared to its average volume of 9,080,000. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.05. The firm has a market cap of $51,950.00, a P/E ratio of 29.96, a P/E/G ratio of 1.55 and a beta of 1.35. CSX Co. has a one year low of $36.21 and a one year high of $60.04.

CSX declared that its board has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In related news, Director Gary Keith Anderson purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were bought at an average price of $2,300.00 per share, with a total value of $11,500,000.00. Corporate insiders own 4.79% of the company’s stock.

Several research analysts have issued reports on the company. Zacks Investment Research downgraded CSX from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Morgan Stanley downgraded CSX from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $44.00 to $43.00 in a report on Monday, October 2nd. ValuEngine downgraded CSX from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Aegis reaffirmed a “buy” rating and set a $64.00 price objective on shares of CSX in a report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on CSX from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $57.28.

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CSX Profile

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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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