Atlantic Union Bankshares Corp Raises Position in CSX Co. (NASDAQ:CSX)

Atlantic Union Bankshares Corp grew its position in CSX Co. (NASDAQ:CSX) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,384 shares of the transportation company’s stock after acquiring an additional 1,494 shares during the period. Atlantic Union Bankshares Corp’s holdings in CSX were worth $5,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CSX during the fourth quarter worth about $85,959,000. Perpetual Ltd acquired a new position in CSX during the fourth quarter worth about $83,301,000. FMR LLC raised its position in CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the last quarter. Finally, KBC Group NV raised its position in CSX by 616.4% during the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after acquiring an additional 958,957 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CSX. Citigroup cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Stephens restated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Royal Bank of Canada cut their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Barclays cut their target price 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, BMO Capital Markets cut their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned 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 $37.00.

CSX Stock Performance

Shares of CSX stock opened at $31.26 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a one year low of $30.55 and a one year high of $38.35. The company has a 50 day moving average price of $32.48 and a 200 day moving average price of $33.62. The firm has a market capitalization of $60.28 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts anticipate that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is currently 29.05%.

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.