Inspire Investing LLC Sells 7,205 Shares of CSX Co. (NASDAQ:CSX)

Inspire Investing LLC cut its stake in CSX Co. (NASDAQ:CSX) by 16.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,529 shares of the transportation company’s stock after selling 7,205 shares during the quarter. Inspire Investing LLC’s holdings in CSX were worth $1,188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. bought a new position in CSX in the first quarter worth about $29,000. MFA Wealth Advisors LLC bought a new stake in CSX during the 2nd quarter valued at approximately $27,000. Valued Wealth Advisors LLC grew its holdings in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after acquiring an additional 594 shares during the period. Burkett Financial Services LLC bought a new position in shares of CSX in the 4th quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of CSX in the 4th quarter valued at approximately $35,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Evercore ISI upgraded CSX to a “strong-buy” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Stephens reissued an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. BMO Capital Markets restated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, Wells Fargo & Company assumed coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Stock Performance

Shares of CSX opened at $34.80 on Friday. The company has a market cap of $68.03 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.77 and a beta of 1.19. The business’s fifty day simple moving average is $34.00 and its two-hundred day simple moving average is $34.42. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm posted $0.49 earnings per share. CSX’s revenue was up .0% compared to the same quarter last year. Research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. CSX’s dividend payout ratio is presently 26.37%.

CSX 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.