Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in CSX Co. (NASDAQ:CSX)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in CSX Co. (NASDAQ:CSX) by 18.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,449,480 shares of the transportation company’s stock after purchasing an additional 374,639 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of CSX worth $90,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Miracle Mile Advisors LLC raised its holdings in shares of CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after acquiring an additional 303 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in shares of CSX by 1.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after acquiring an additional 304 shares in the last quarter. Team Hewins LLC raised its holdings in shares of CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after acquiring an additional 306 shares in the last quarter. Cornercap Investment Counsel Inc. raised its holdings in shares of CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares in the last quarter. Finally, FCA Corp TX raised its holdings in shares of CSX by 0.3% during the fourth quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock valued at $4,007,000 after acquiring an additional 339 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSX. Stifel Nicolaus increased their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Sanford C. Bernstein increased their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Royal Bank of Canada decreased their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Jefferies Financial Group decreased their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.39.

CSX Stock Performance

CSX stock traded down $0.43 during trading on Thursday, reaching $35.02. The stock had a trading volume of 8,414,362 shares, compared to its average volume of 11,814,798. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock’s 50 day moving average is $33.44 and its two-hundred day moving average is $35.07. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The firm has a market cap of $68.46 billion, a PE ratio of 19.41, a PEG ratio of 1.92 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that CSX Co. will post 1.94 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.