Inspire Investing LLC Sells 7,205 Shares of CSX Co. (NASDAQ:CSX)

Inspire Investing LLC decreased its position in CSX Co. (NASDAQ:CSX) by 16.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,529 shares of the transportation company’s stock after selling 7,205 shares during the quarter. Inspire Investing LLC’s holdings in CSX were worth $1,188,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gilbert & Cook Inc. boosted its holdings in shares of CSX by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock worth $660,000 after buying an additional 798 shares during the last quarter. 9258 Wealth Management LLC grew its position in shares of CSX by 8.0% during the 4th quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock valued at $422,000 after acquiring an additional 900 shares during the period. Gryphon Financial Partners LLC grew its position in shares of CSX by 7.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock valued at $693,000 after acquiring an additional 1,422 shares during the period. Wells Fargo & Company MN raised its holdings in CSX by 2.5% in the 4th quarter. Wells Fargo & Company MN now owns 3,640,392 shares of the transportation company’s stock worth $126,212,000 after purchasing an additional 89,759 shares during the period. Finally, Clearbridge Investments LLC lifted its position in CSX by 4.1% during the fourth quarter. Clearbridge Investments LLC now owns 64,856 shares of the transportation company’s stock valued at $2,249,000 after purchasing an additional 2,579 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 2.2 %

Shares of CSX stock opened at $34.80 on Friday. The stock’s 50-day moving average price is $34.00 and its 200-day moving average price is $34.42. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The stock has a market capitalization of $68.03 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts predict that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.38%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.80.

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.