Allspring Global Investments Holdings LLC Has $9.74 Million Holdings in CSX Co. (NASDAQ:CSX)

Allspring Global Investments Holdings LLC cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,808 shares of the transportation company’s stock after selling 20,002 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CSX were worth $9,738,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CSX. Perpetual Ltd bought a new stake in CSX in the fourth quarter valued at $83,301,000. Assenagon Asset Management S.A. grew its position in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after acquiring an additional 2,489,329 shares during the period. FMR LLC grew its position in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares during the period. KBC Group NV grew its position in CSX by 616.4% in the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after acquiring an additional 958,957 shares during the period. Finally, Fisher Asset Management LLC grew its position in CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSX has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Stephens restated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research note on Friday, January 24th. Citigroup lowered their target price on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Finally, BMO Capital Markets lowered their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.16.

CSX Stock Performance

NASDAQ:CSX opened at $33.64 on Wednesday. The stock has a fifty day moving average price of $32.71 and a 200-day moving average price of $33.79. The company has a market cap of $64.87 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.91 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities analysts anticipate that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.55%. CSX’s dividend payout ratio is presently 26.82%.

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.