Inspire Investing LLC Cuts Holdings in CSX Co. (NASDAQ:CSX)

Inspire Investing LLC reduced its holdings in CSX Co. (NASDAQ:CSX) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,195 shares of the transportation company’s stock after selling 1,334 shares during the quarter. Inspire Investing LLC’s holdings in CSX were worth $1,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its stake in shares of CSX by 11.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 10,611 shares of the transportation company’s stock worth $365,000 after purchasing an additional 1,076 shares during the period. Syon Capital LLC increased its holdings in CSX by 8.7% in the fourth quarter. Syon Capital LLC now owns 23,505 shares of the transportation company’s stock valued at $815,000 after buying an additional 1,875 shares in the last quarter. Tortoise Investment Management LLC purchased a new position in CSX in the fourth quarter valued at about $35,000. Richardson Financial Services Inc. acquired a new stake in shares of CSX during the 4th quarter valued at approximately $100,000. Finally, Willner & Heller LLC purchased a new stake in shares of CSX during the 4th quarter worth approximately $266,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Susquehanna lifted their price objective on CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday, October 2nd. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Finally, Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.19.

CSX Stock Up 1.2 %

CSX opened at $34.96 on Monday. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The business has a 50-day moving average of $33.93 and a two-hundred day moving average of $34.01. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a market capitalization of $68.34 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, research analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.