Allspring Global Investments Holdings LLC Sells 20,002 Shares of CSX Co. (NASDAQ:CSX)

Allspring Global Investments Holdings LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

A number of other large investors also recently modified their holdings of CSX. Perpetual Ltd bought a new position in shares of CSX in the fourth quarter valued at approximately $83,301,000. Assenagon Asset Management S.A. lifted its holdings in shares of 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 purchasing an additional 2,489,329 shares in the last quarter. FMR LLC lifted its holdings in shares of 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 purchasing an additional 1,447,651 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 958,957 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of CSX by 3.6% during 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 last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Robert W. Baird reduced their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. reduced their price target on CSX from $38.00 to $37.00 and set an “overweight” 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 stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $37.16.

CSX Price Performance

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

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.55%. CSX’s dividend payout ratio (DPR) is presently 26.82%.

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.