Thrivent Financial Reduces Holdings in CSX Co.

Thrivent Financial for Lutherans has reduced its investment in CSX Co. (NASDAQ:CSX) by 4.5% in the fourth quarter, as stated in its latest filing with the Securities and Exchange Commission (SEC). After selling off 151,401 shares during the quarter, the firm now owns 3,223,098 shares of CSX. At the end of the quarter, Thrivent held about 0.17% of CSX, valued at $104,068,000.

Institutional Investors Adjust Their Positions

Several other institutional investors have also adjusted their stakes in CSX. For example, SBI Securities Co. Ltd. established a new position valued at $31,000 during the fourth quarter, while Sierra Ocean LLC acquired shares worth $33,000. Meanwhile, Center for Financial Planning Inc. increased its stake in CSX by 205.7%, owning 1,070 shares after purchasing an additional 720 shares during the last quarter, valued at $35,000. Atala Financial Inc. and Wingate Wealth Advisors Inc. also established new positions valued at $36,000 and $39,000, respectively. Institutional investors and hedge funds collectively own 73.57% of CSX stock.

Analyst Opinions on CSX

CSX has been the focus of various analyst evaluations recently. On January 24th, JPMorgan Chase & Co. lowered its price target for CSX from $38.00 to $37.00, maintaining an "overweight" rating. Similarly, Susquehanna cut its price target from $40.00 to $39.00 and rated the stock as "positive." Royal Bank of Canada also lowered its target from $34.00 to $33.00 with a "sector perform" rating, while Barclays reduced its price target from $40.00 to $38.00, continuing to rate it as "overweight." On January 10th, Jefferies Financial Group upgraded CSX from a "hold" rating to a "buy" rating with a target price of $37.00. Currently, seven analysts have given a hold rating, while thirteen have rated it as a buy. Overall, CSX has an average rating of "Moderate Buy" and a price target of $37.00 according to data from MarketBeat.com.

CSX's Recent Performance

On Wednesday, NASDAQ:CSX opened at $30.26. The company has a market capitalization of $57.33 billion, a PE ratio of 16.91, and a price-to-earnings-growth ratio of 1.92. CSX has a quick ratio of 1.23 and a current ratio of 0.86, with a debt-to-equity ratio of 1.43. The stock has seen a 52-week low of $28.98 and a high of $38.03, with a fifty-day simple moving average of $32.16 and a 200-day average of $33.44.

Latest Earnings and Dividend Announcement

CSX last reported its quarterly earnings on January 23rd, revealing earnings per share (EPS) of $0.42, which missed the consensus estimate of $0.44 by $0.02. The company's return on equity stands at 28.15%, and it has a net margin of 23.95%. Analysts expect CSX to post an EPS of 1.83 for the current fiscal year. Recently, CSX announced an increase in its quarterly dividend. The dividend, which was paid on March 14th, was raised from $0.12 to $0.13 per share for investors of record as of February 28th. This results in an annualized dividend of $0.52, yielding 1.72%, with a current payout ratio of 29.05%.

Understanding CSX Corporation

CSX Corporation provides rail-based freight transportation services through its subsidiaries. The company offers rail services for transporting intermodal containers and trailers, along with a variety of transportation options, including rail-to-truck transfers and bulk commodity operations. CSX transports a wide range of goods, including chemicals, food products, agricultural materials, minerals, automotive components, forest products, fertilizers, as well as coal and iron ore to power plants and manufacturers.

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