Corebridge Financial Inc. Has $21.17 Million Stock Position in CSX Co. (NASDAQ:CSX)

Corebridge Financial Inc. lessened its stake in CSX Co. (NASDAQ:CSX) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 656,160 shares of the transportation company’s stock after selling 16,602 shares during the quarter. Corebridge Financial Inc.’s holdings in CSX were worth $21,174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSX. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new stake in CSX during the 4th quarter valued at $33,000. Center for Financial Planning Inc. lifted its holdings in CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 720 shares during the last quarter. Atala Financial Inc bought a new position in shares of CSX in the fourth quarter valued at about $36,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of CSX during the 4th quarter worth about $37,000. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Friday, January 10th. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price on the stock. Barclays dropped their price target on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Royal Bank of Canada reduced their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Up 0.9 %

Shares of NASDAQ:CSX opened at $29.85 on Tuesday. CSX Co. has a 52-week low of $28.98 and a 52-week high of $37.40. The company has a market capitalization of $56.55 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a fifty day moving average of $31.99 and a 200-day moving average of $33.31.

CSX (NASDAQ:CSX) last posted its 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, equities analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.74%. CSX’s dividend payout ratio (DPR) is currently 29.05%.

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.