Atlantic Union Bankshares Corp Increases Stake in CSX Co. (NASDAQ:CSX)

Atlantic Union Bankshares Corp grew its stake in shares of CSX Co. (NASDAQ:CSX) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,890 shares of the transportation company’s stock after purchasing an additional 11,441 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in CSX were worth $5,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Interval Partners LP raised its position in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CSX during the second quarter valued at approximately $116,430,000. Assenagon Asset Management S.A. lifted its stake in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after acquiring an additional 2,489,329 shares during the period. Wulff Hansen & CO. lifted its stake in CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after acquiring an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can boosted its holdings in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after acquiring an additional 1,884,998 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of several research reports. Evercore ISI decreased their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Barclays raised their price objective on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Stephens reduced their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company lowered their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Finally, Loop Capital reduced their price target on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Price Performance

Shares of NASDAQ CSX opened at $36.58 on Friday. The company has a 50 day moving average of $34.67 and a 200 day moving average of $34.01. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $31.65 and a twelve month high of $40.12. The firm has a market cap of $70.54 billion, a P/E ratio of 19.67, a PEG ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. CSX’s dividend payout ratio is presently 25.81%.

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.