Corebridge Financial Inc. Sells 16,602 Shares of CSX Co. (NASDAQ:CSX)

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

Several other institutional investors and hedge funds have also modified their holdings of the business. Rehmann Capital Advisory Group lifted its position in shares of CSX by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after purchasing an additional 306 shares in the last quarter. Associated Banc Corp lifted its holdings in CSX by 0.6% during the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after buying an additional 310 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after buying an additional 310 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after buying an additional 313 shares during the period. Finally, West Branch Capital LLC lifted its stake in shares of CSX by 3.3% during the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after acquiring an additional 332 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock opened at $29.85 on Tuesday. The stock has a 50-day moving average price of $31.99 and a two-hundred day moving average price of $33.31. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.40. The stock has a market cap 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 current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays dropped their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of CSX in a report on Monday, January 27th. Robert W. Baird dropped their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Susquehanna reduced their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.