Atlantic Union Bankshares Corp Acquires 2,736 Shares of CSX Co. (NASDAQ:CSX)

Atlantic Union Bankshares Corp boosted its holdings in CSX Co. (NASDAQ:CSX) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,137 shares of the transportation company’s stock after purchasing an additional 2,736 shares during the period. Atlantic Union Bankshares Corp’s holdings in CSX were worth $4,342,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of CSX in the 4th quarter worth approximately $757,276,000. Price T Rowe Associates Inc. MD boosted its stake in CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors grew its position in CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Lazard Asset Management LLC increased its stake in CSX by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after purchasing an additional 2,748,738 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in CSX by 43.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock valued at $146,128,000 after purchasing an additional 1,446,685 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CSX shares. Wells Fargo & Company began coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Royal Bank of Canada decreased their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Stifel Nicolaus boosted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Susquehanna reduced their price target on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

CSX Price Performance

Shares of CSX traded up $0.42 during mid-day trading on Friday, hitting $33.45. 15,863,632 shares of the stock were exchanged, compared to its average volume of 11,991,037. The firm has a 50-day moving average of $33.46 and a two-hundred day moving average of $35.11. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The company has a market cap of $65.39 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.71 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. On average, equities analysts predict that CSX Co. will post 1.96 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s payout ratio is currently 26.37%.

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.