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

Atlantic Union Bankshares Corp grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 160,384 shares of the transportation company’s stock after purchasing an additional 1,494 shares during the period. Atlantic Union Bankshares Corp’s holdings in CSX were worth $5,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valley Wealth Managers Inc. raised its holdings in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the 4th quarter worth about $31,000. Sierra Ocean LLC acquired a new stake in shares of CSX in the 4th quarter worth about $33,000. Addison Advisors LLC increased its holdings in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after acquiring an additional 812 shares during the period. Finally, Center for Financial Planning Inc. increased its holdings in shares of CSX by 205.7% in the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after acquiring an additional 720 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX stock opened at $31.26 on Friday. The firm’s 50 day simple moving average is $32.48 and its 200-day simple moving average is $33.62. The company has a market cap of $60.28 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a fifty-two week low of $30.55 and a fifty-two week high of $38.35.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, equities research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CSX shares. Stephens reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Royal Bank of Canada dropped their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company decreased their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Barclays decreased 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 decreased their target price 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 given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.