Allspring Global Investments Holdings LLC Lowers Holdings in CSX Co. (NASDAQ:CSX)

Allspring Global Investments Holdings LLC cut its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Indiana Trust & Investment Management Co lifted its holdings in shares of CSX by 3.0% during the fourth quarter. Indiana Trust & Investment Management Co now owns 16,404 shares of the transportation company's stock worth $529,000 after purchasing an additional 471 shares during the period. Signet Investment Advisory Group Inc. lifted its holdings in shares of CSX by 2.6% during the fourth quarter. Signet Investment Advisory Group Inc. now owns 131,291 shares of the transportation company's stock worth $4,237,000 after purchasing an additional 3,323 shares during the period. TCV Trust & Wealth Management Inc. lifted its holdings in shares of CSX by 1.0% during the fourth quarter. TCV Trust & Wealth Management Inc. now owns 330,217 shares of the transportation company's stock worth $10,656,000 after purchasing an additional 3,301 shares during the period. Augustine Asset Management Inc. lifted its holdings in CSX by 1.5% in the fourth quarter. Augustine Asset Management Inc. now owns 73,076 shares of the transportation company's stock valued at $2,358,000 after acquiring an additional 1,081 shares during the period. Finally, New Republic Capital LLC lifted its holdings in CSX by 1.7% in the fourth quarter. New Republic Capital LLC now owns 22,397 shares of the transportation company's stock valued at $723,000 after acquiring an additional 370 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock traded down $0.16 during midday trading on Friday, reaching $32.30. 23,611,829 shares of the company were exchanged, compared to its average volume of 12,876,070. The company has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23. The firm's 50-day simple moving average is $32.63 and its 200-day simple moving average is $33.77. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS 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%. On average, analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm 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. This is a boost from CSX's previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.61%. CSX's payout ratio is 26.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their target price on CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Citigroup reduced their target price on CSX from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, January 24th. Wells Fargo & Company cut their price target on CSX from $36.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, January 24th. Stephens reaffirmed an "overweight" rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Finally, Barclays cut their price target on CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and a consensus target price of $37.16.

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.