Truist Financial Corp Buys 7,921 Shares of CSX Co. (NASDAQ:CSX)

Truist Financial Corp lifted its stake in CSX Co. (NASDAQ:CSX) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,365,246 shares of the transportation company’s stock after acquiring an additional 7,921 shares during the period. Truist Financial Corp owned 0.07% of CSX worth $44,056,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp raised its position in shares of CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after acquiring an additional 455,258 shares in the last quarter. Geode Capital Management LLC raised its stake in CSX by 0.5% in the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after buying an additional 190,346 shares during the last quarter. Fisher Asset Management LLC raised its stake in CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after buying an additional 857,302 shares during the last quarter. FMR LLC raised its stake in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in CSX by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock valued at $440,118,000 after buying an additional 737,221 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 0.8 %

Shares of CSX opened at $33.64 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12 month low of $31.43 and a 12 month high of $40.12. The stock’s 50 day moving average is $32.71 and its two-hundred day moving average is $33.79. The firm has a market cap of $64.87 billion, a P/E ratio of 18.79, a PEG ratio of 1.91 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Analysts predict that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio (DPR) is presently 26.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CSX shares. JPMorgan Chase & Co. decreased their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Citigroup decreased their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Raymond James reiterated an “outperform” rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $37.16.

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.