CSX Co. (NASDAQ:CSX) Shares Acquired by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 24.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,181 shares of the transportation company’s stock after purchasing an additional 28,899 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in CSX were worth $5,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in CSX by 8.1% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,495 shares of the transportation company’s stock valued at $507,000 after acquiring an additional 1,231 shares during the last quarter. ORG Partners LLC lifted its stake in CSX by 283.2% during the third quarter. ORG Partners LLC now owns 3,487 shares of the transportation company’s stock worth $107,000 after purchasing an additional 2,577 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in CSX by 0.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 578,040 shares of the transportation company’s stock worth $17,775,000 after purchasing an additional 3,210 shares in the last quarter. Syon Capital LLC acquired a new position in CSX during the third quarter worth $665,000. Finally, NBC Securities Inc. acquired a new position in CSX during the third quarter worth $207,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX stock traded down $0.17 during mid-day trading on Thursday, hitting $33.84. 2,373,591 shares of the stock were exchanged, compared to its average volume of 11,959,214. The stock’s fifty day simple moving average is $35.16 and its two-hundred day simple moving average is $34.92. The stock has a market capitalization of $66.15 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.71 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, analysts forecast that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.12 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of research reports. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Thursday, April 18th. TD Cowen upped their price objective on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. UBS Group cut their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Bank of America cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada cut their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.