Inspire Investing LLC Lowers Position in CSX Corporation $CSX

Key Points

• Inspire Investing LLC reduced its stake in CSX Corporation by 71.4%, now holding 10,691 shares worth approximately $315,000 as of its latest SEC filing.
• CSX Corporation's stock is currently traded at $32.77, with a market cap of $61.09 billion, and has seen a 3.5% year-over-year decrease in revenue.
• The company recently declared a quarterly dividend of $0.13 per share, reflecting a 1.6% dividend yield and a payout ratio of 32.10%.

Inspire Investing LLC lowered its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 71.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,691 shares of the transportation company's stock after selling 26,651 shares during the period. Inspire Investing LLC's holdings in CSX were worth $315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strs Ohio bought a new stake in CSX during the 1st quarter worth $29,614,000. Focus Partners Wealth grew its position in CSX by 6.7% during the 1st quarter. Focus Partners Wealth now owns 1,447,099 shares of the transportation company's stock worth $42,588,000 after acquiring an additional 90,313 shares during the last quarter. Woodline Partners LP grew its position in CSX by 127.7% during the 1st quarter. Woodline Partners LP now owns 1,151,161 shares of the transportation company's stock worth $33,879,000 after acquiring an additional 645,693 shares during the last quarter. CWA Asset Management Group LLC grew its position in CSX by 15.1% during the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after acquiring an additional 1,642 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in CSX by 9.8% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after acquiring an additional 3,458 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 1.3%

Shares of CSX stock traded down $0.45 on Friday, hitting $32.98. 27,072,755 shares of the company's stock traded hands, compared to its average volume of 19,422,964. CSX Corporation has a one year low of $26.22 and a one year high of $37.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The company has a fifty day moving average of $34.19 and a two-hundred day moving average of $31.67. The company has a market capitalization of $61.48 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 29th. CSX's dividend payout ratio is presently 32.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CSX shares. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. Baird R W upgraded CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Thursday, July 24th. Robert W. Baird upped their price target on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a research report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.41.

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.