CSX Corporation $CSX Shares Bought by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan grew its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 552,171 shares of the transportation company's stock after buying an additional 33,091 shares during the quarter. Nissay Asset Management Corp Japan's holdings in CSX were worth $26,245,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of CSX in the second quarter worth $7,655,277,000. XXEC Inc. bought a new stake in shares of CSX in the 2nd quarter worth about $765,595,000. Bank of America Corp DE bought a new stake in shares of CSX in the 2nd quarter worth about $1,598,962,000. Bank of New York Mellon Corp acquired a new stake in shares of CSX in the 2nd quarter valued at about $950,325,000. Finally, Legal & General Group Plc acquired a new stake in shares of CSX in the 2nd quarter valued at about $747,001,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Insider Buying and Selling

In other news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by insiders.

CSX Trading Down 0.5%

CSX stock opened at $51.28 on Friday. The firm's 50-day moving average is $49.91 and its 200-day moving average is $45.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. The company has a market cap of $94.99 billion, a P/E ratio of 29.64, a PEG ratio of 2.35 and a beta of 1.21.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the business posted $0.44 EPS. The company's quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts expect that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX's payout ratio is presently 32.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Susquehanna raised shares of CSX from a "neutral" rating to a "positive" rating and increased their price target for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. TD Cowen boosted their price objective on CSX from $46.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Evercore set a $51.00 price objective on CSX in a research note on Thursday, July 23rd. Weiss Ratings raised CSX from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Citizens Jmp assumed coverage on CSX in a research report on Wednesday, July 15th. They issued a "market perform" rating for the company. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, CSX has an average rating of "Moderate Buy" and a consensus target price of $51.31.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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