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

Allspring Global Investments Holdings LLC reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSX. Valley Wealth Managers Inc. raised its stake in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new position in CSX in the third quarter worth $31,000. Addison Advisors LLC grew its holdings in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the last quarter. Fortitude Family Office LLC increased its stake in shares of CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of CSX in the fourth quarter valued at about $39,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

CSX stock opened at $33.64 on Wednesday. The company has a fifty day moving average price of $32.71 and a 200-day moving average price of $33.79. CSX Co. has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a market capitalization of $64.87 billion, a P/E 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 (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts expect that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

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

Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Barclays lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Susquehanna dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird decreased their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Raymond James restated an “outperform” rating and set a $37.00 target price (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Finally, Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.16.

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.