Atlantic Union Bankshares Corp Acquires 11,441 Shares of 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 its most recent filing with the SEC. The institutional investor owned 158,890 shares of the transportation company’s stock after purchasing an additional 11,441 shares during the period. Atlantic Union Bankshares Corp’s holdings in CSX were worth $5,486,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Valley Wealth Managers Inc. lifted its position in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of CSX during the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth $27,000. Fairscale Capital LLC purchased a new stake in CSX in the 2nd quarter worth about $32,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in CSX during the third quarter valued at about $31,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSX has been the topic of several research reports. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company reduced their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Down 0.3 %

CSX opened at $36.58 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The business’s fifty day simple moving average is $34.67 and its 200 day simple moving average is $34.01. CSX Co. has a 52 week low of $31.65 and a 52 week high of $40.12. The stock has a market cap of $70.54 billion, a PE ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19.

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

CSX Dividend Announcement

The firm also recently disclosed 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 (DPR) is 25.81%.

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.