CSX Co. (NASDAQ:CSX) Position Decreased by Truist Financial Corp

Truist Financial Corp lowered its holdings in CSX Co. (NASDAQ:CSX) by 2.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,362,681 shares of the transportation company’s stock after selling 33,855 shares during the quarter. Truist Financial Corp’s holdings in CSX were worth $45,582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CSX. Price T Rowe Associates Inc. MD lifted its holdings in shares of CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares during the last quarter. Interval Partners LP increased its position in shares of CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CSX during the second quarter valued at approximately $116,430,000. M&G Plc acquired a new stake in shares of CSX during the first quarter valued at approximately $126,089,000. Finally, Wulff Hansen & CO. lifted its position in shares of CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

CSX opened at $34.17 on Thursday. The stock’s 50 day simple moving average is $33.96 and its 200-day simple moving average is $34.17. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The stock has a market cap of $66.80 billion, a PE ratio of 18.77, a P/E/G ratio of 1.91 and a beta of 1.19. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. Sell-side analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. CSX’s dividend payout ratio is currently 26.37%.

Analysts Set New Price Targets

Several research firms recently weighed in on CSX. JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of CSX in a research note on Tuesday, August 6th. Barclays cut their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, Wells Fargo & Company initiated coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.