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

Truist Financial Corp lifted its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,365,246 shares of the transportation company's stock after purchasing 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.

A number of other hedge funds also recently modified their holdings of CSX. Avior Wealth Management LLC boosted its position in CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock worth $407,000 after purchasing an additional 293 shares during the period. Lake Street Advisors Group LLC boosted its holdings in CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company's stock worth $595,000 after buying an additional 306 shares during the period. Rehmann Capital Advisory Group grew its stake in CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company's stock valued at $830,000 after buying an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company's stock valued at $1,222,000 after acquiring an additional 309 shares during the period. Finally, Associated Banc Corp lifted its position in shares of CSX by 0.6% during the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company's stock worth $1,918,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 0.5 %

Shares of NASDAQ:CSX traded down $0.16 during trading on Friday, reaching $32.30. 23,611,829 shares of the company traded hands, compared to its average volume of 14,363,321. 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 52-week low of $31.43 and a 52-week high of $40.12. The business's fifty day moving average is $32.65 and its 200-day moving average is $33.77. The firm has a market capitalization of $62.29 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly 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 net margin of 23.95% and a return on equity of 28.15%. As a group, analysts forecast 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 given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. This is a boost from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is currently 26.82%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSX. Stephens reiterated an "overweight" rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group raised CSX from a "hold" rating to a "buy" rating and set a $37.00 target price for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on shares of CSX from $36.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Susquehanna reduced their target price on CSX from $40.00 to $39.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and an average price target of $37.16.

CSX Profile

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.