CSX Co. (NASDAQ:CSX) Stake Lowered by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,605 shares of the transportation company’s stock after selling 1,040 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in CSX were worth $957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CSX. Price T Rowe Associates Inc. MD grew its holdings in shares of CSX by 18.1% during the 4th 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 acquiring an additional 9,914,656 shares in the last quarter. Capital International Investors grew its holdings in shares of CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of CSX during the 2nd quarter valued at $116,430,000. M&G Plc acquired a new stake in shares of CSX in the 1st quarter valued at $126,089,000. Finally, Wulff Hansen & CO. lifted its stake 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 purchasing an additional 2,126,668 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Up 2.2 %

NASDAQ CSX opened at $34.80 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The firm has a 50-day simple moving average of $34.00 and a 200 day simple moving average of $34.42. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The stock has a market cap of $68.03 billion, a PE ratio of 19.12, a PEG ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. On average, research analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSX. Sanford C. Bernstein lifted their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Company 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.