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

Allspring Global Investments Holdings LLC cut its stake in CSX Co. (NASDAQ:CSX) by 45.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC grew its position in CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after acquiring an additional 23,300,381 shares during the last quarter. Norges Bank bought a new position in CSX in the 4th quarter valued at $621,349,000. First Trust Advisors LP boosted its position in CSX by 558.0% in the 1st quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock valued at $203,620,000 after buying an additional 5,767,302 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in CSX by 395.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock valued at $195,059,000 after buying an additional 4,158,204 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in CSX by 416.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock valued at $155,912,000 after buying an additional 4,089,150 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of a number of recent research reports. Susquehanna increased their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price objective on shares of CSX in a research report on Thursday, January 25th. BMO Capital Markets increased their price objective on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, TD Cowen raised their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.28.

CSX Stock Performance

Shares of CSX stock opened at $34.84 on Wednesday. The company has a market capitalization of $68.20 billion, a PE ratio of 18.93, a PEG ratio of 2.04 and a beta of 1.18. 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 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The stock’s fifty day simple moving average is $37.04 and its 200 day simple moving average is $34.32.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, research analysts predict that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

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

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.