Allspring Global Investments Holdings LLC Acquires 3,887,644 Shares of CSX Corporation (NASDAQ:CSX)

Allspring Global Investments Holdings LLC boosted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 1,283.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,190,452 shares of the transportation company's stock after buying an additional 3,887,644 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.22% of CSX worth $123,786,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSX. Norges Bank acquired a new position in shares of CSX during the 4th quarter worth approximately $780,194,000. Ameriprise Financial Inc. increased its position in shares of CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after purchasing an additional 9,863,587 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock worth $217,808,000 after purchasing an additional 5,568,624 shares during the last quarter. Fiduciary Management Inc. WI acquired a new position in shares of CSX during the 4th quarter worth approximately $178,259,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CSX during the 4th quarter worth approximately $117,133,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Price Performance

Shares of NASDAQ:CSX traded up $0.34 during trading on Friday, reaching $32.91. 20,443,890 shares of the company traded hands, compared to its average volume of 13,309,326. The company's 50 day moving average is $30.64 and its two-hundred day moving average is $31.04. The firm has a market capitalization of $61.82 billion, a PE ratio of 19.71, a PEG ratio of 2.88 and a beta of 1.24. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. As a group, sell-side analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. CSX's payout ratio is 31.14%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSX. Argus set a $32.00 target price on CSX in a report on Friday, April 25th. Citigroup decreased their target price on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets decreased their target price on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Evercore ISI decreased their target price on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, Benchmark restated a "buy" rating and set a $35.00 price objective on shares of CSX in a report on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and an average price target of $34.14.

CSX 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.