CSX Co. (NASDAQ:CSX) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in CSX Co. (NASDAQ:CSX) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,081 shares of the transportation company’s stock after acquiring an additional 57,134 shares during the period. Daiwa Securities Group Inc.’s holdings in CSX were worth $14,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX in the second quarter valued at about $26,000. Valley Wealth Managers Inc. grew its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares during the period. MFA Wealth Advisors LLC acquired a new position in CSX during the second quarter worth about $27,000. Morton Brown Family Wealth LLC acquired a new position in CSX during the third quarter worth about $31,000. Finally, Fairscale Capital LLC acquired a new position in CSX during the second quarter worth about $32,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $35.78 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company has a market capitalization of $69.00 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.27 and a beta of 1.19. The company’s 50 day simple moving average is $34.48 and its 200 day simple moving average is $33.94. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, sell-side analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup upped their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Evercore ISI lowered their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.