CSX Co. (NASDAQ:CSX) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in CSX Co. (NASDAQ:CSX) by 9.9% in the third quarter, HoldingsChannel reports. The fund owned 322,810 shares of the transportation company’s stock after purchasing an additional 29,161 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CSX were worth $11,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. Brookstone Capital Management raised its stake in shares of CSX by 15.6% in the 1st quarter. Brookstone Capital Management now owns 27,113 shares of the transportation company’s stock worth $1,005,000 after buying an additional 3,662 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in CSX by 24.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 26,008 shares of the transportation company’s stock worth $964,000 after acquiring an additional 5,155 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in CSX in the 1st quarter valued at about $97,000. OneAscent Financial Services LLC grew its stake in shares of CSX by 22.0% in the 1st quarter. OneAscent Financial Services LLC now owns 14,633 shares of the transportation company’s stock worth $542,000 after purchasing an additional 2,638 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of CSX by 21.9% in the 1st quarter. New Mexico Educational Retirement Board now owns 129,018 shares of the transportation company’s stock worth $4,832,000 after purchasing an additional 23,200 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of NASDAQ CSX opened at $33.27 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The business’s 50-day moving average price is $34.03 and its two-hundred day moving average price is $33.89. The company has a market capitalization of $65.04 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. Analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

CSX has been the topic of several recent research reports. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Barclays decreased their target price on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Evercore ISI dropped their price target on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average target price of $38.61.

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.