CSX Corporation $CSX Holdings Trimmed by Inspire Investing LLC

Inspire Investing LLC trimmed its stake in CSX Corporation (NASDAQ:CSX) by 71.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,691 shares of the transportation company’s stock after selling 26,651 shares during the quarter. Inspire Investing LLC’s holdings in CSX were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CSX. Nuveen LLC bought a new stake in shares of CSX in the 1st quarter valued at approximately $182,550,000. Bank of New York Mellon Corp lifted its stake in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock valued at $835,336,000 after acquiring an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in CSX by 1,283.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company’s stock valued at $123,786,000 after acquiring an additional 3,887,644 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CSX in the fourth quarter worth approximately $117,133,000. Finally, Amundi increased its stake in shares of CSX by 34.5% during the 1st quarter. Amundi now owns 13,017,397 shares of the transportation company’s stock worth $364,357,000 after purchasing an additional 3,341,136 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 0.9%

NASDAQ:CSX opened at $32.77 on Thursday. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.25. The stock has a 50-day moving average price of $34.22 and a two-hundred day moving average price of $31.65. The stock has a market cap of $61.09 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.42 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $0.49 earnings per share. CSX’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX’s payout ratio is 32.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CSX. Susquehanna reaffirmed a “neutral” rating and set a $35.00 target price on shares of CSX in a research report on Tuesday, June 24th. Raymond James Financial lifted their target price on CSX from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of CSX from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. BMO Capital Markets downgraded CSX from an “outperform” rating to a “market perform” rating and set a $38.00 target price for the company. in a research report on Monday, August 18th. Finally, Citigroup lifted their target price on shares of CSX from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.00.

About CSX

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.