Allspring Global Investments Holdings LLC Has $10.06 Million Stock Position in CSX Co. (NASDAQ:CSX)

Allspring Global Investments Holdings LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 45.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 290,254 shares of the transportation company’s stock after selling 237,456 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CSX were worth $10,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BSW Wealth Partners acquired a new stake in shares of CSX in the 4th quarter worth about $212,000. Bleakley Financial Group LLC raised its holdings in shares of CSX by 31.5% in the 4th quarter. Bleakley Financial Group LLC now owns 90,269 shares of the transportation company’s stock worth $3,130,000 after acquiring an additional 21,603 shares during the last quarter. Equitable Trust Co. raised its holdings in shares of CSX by 6.7% in the 4th quarter. Equitable Trust Co. now owns 154,496 shares of the transportation company’s stock worth $5,356,000 after acquiring an additional 9,676 shares during the last quarter. Signet Investment Advisory Group Inc. raised its holdings in shares of CSX by 2.0% in the 4th quarter. Signet Investment Advisory Group Inc. now owns 113,873 shares of the transportation company’s stock worth $3,948,000 after acquiring an additional 2,208 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its holdings in shares of CSX by 4.8% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,687 shares of the transportation company’s stock worth $475,000 after acquiring an additional 627 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price objective on shares of CSX in a research note on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of CSX in a research note on Monday, April 8th. They issued a “hold” rating and a $40.00 price objective for the company. Finally, BMO Capital Markets increased their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.28.

CSX Stock Down 0.9 %

CSX stock opened at $34.84 on Wednesday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The firm has a 50 day moving average price of $37.04 and a 200-day moving average price of $34.32. The company has a market capitalization of $68.20 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.04 and a beta of 1.18. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the firm earned $0.49 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts predict that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.38%. CSX’s dividend payout ratio (DPR) is 26.09%.

CSX Company 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.