Atlantic Union Bankshares Corp lessened its holdings in CSX Co. (NASDAQ:CSX) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,140 shares of the transportation company’s stock after selling 300 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in CSX were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in CSX by 0.4% during the second quarter. Vanguard Group Inc. now owns 64,212,600 shares of the transportation company’s stock valued at $4,968,128,000 after purchasing an additional 272,226 shares in the last quarter. BlackRock Inc. raised its stake in shares of CSX by 2.4% in the second quarter. BlackRock Inc. now owns 48,210,842 shares of the transportation company’s stock worth $3,730,073,000 after purchasing an additional 1,127,117 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in CSX by 6.8% during the second quarter. EdgePoint Investment Group Inc. now owns 10,698,067 shares of the transportation company’s stock worth $827,709,000 after acquiring an additional 685,637 shares during the period. Nuveen Asset Management LLC grew its holdings in CSX by 1,402.9% during the second quarter. Nuveen Asset Management LLC now owns 9,509,960 shares of the transportation company’s stock worth $735,786,000 after acquiring an additional 8,877,188 shares during the period. Finally, Northern Trust Corp grew its holdings in CSX by 0.3% during the second quarter. Northern Trust Corp now owns 9,324,156 shares of the transportation company’s stock worth $721,411,000 after acquiring an additional 29,160 shares during the period. 77.80% of the stock is currently owned by institutional investors.
CSX traded down $0.05 on Friday, hitting $74.03. 2,258,800 shares of the company were exchanged, compared to its average volume of 4,946,240. The company has a market cap of $57.80 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. CSX Co. has a twelve month low of $58.47 and a twelve month high of $80.73. The firm has a 50-day moving average price of $69.73 and a two-hundred day moving average price of $72.58. The company has a current ratio of 1.41, a quick ratio of 1.33 and a debt-to-equity ratio of 1.35.
CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. CSX had a return on equity of 27.67% and a net margin of 27.91%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. Equities analysts expect that CSX Co. will post 4.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 27th. CSX’s payout ratio is 25.00%.
In other news, Director Steven T. Halverson sold 39,812 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $71.65, for a total transaction of $2,852,529.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ridge Lp Mantle sold 3,453,894 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the transaction, the director now owns 8,263 shares in the company, valued at $561,140.33. The disclosure for this sale can be found here. Insiders own 4.83% of the company’s stock.
Several research firms recently commented on CSX. TD Securities raised their target price on CSX from $76.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. BidaskClub raised CSX from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Argus set a $82.00 price objective on CSX and gave the company a “buy” rating in a report on Friday, October 18th. Wells Fargo & Co initiated coverage on CSX in a report on Monday, October 28th. They issued a “market perform” rating and a $73.00 price objective on the stock. Finally, UBS Group lowered their price target on CSX from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $77.98.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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