CSX Corporation $CSX Stock Acquired by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its CSX stake by 13.3% in the third quarter, adding 110,047 shares to reach 938,563 shares worth approximately $43.7 million. Institutional investors and hedge funds collectively own 73.57% of the company.
• CSX reported quarterly earnings of $0.57 per share on $4.02 billion in revenue, beating estimates of $0.53 EPS and $3.96 billion in revenue; revenue rose 12% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $52.20 price target. CSX also declared a quarterly dividend of $0.14 per share, representing a 1.1% annualized yield.

Asset Management One Co. Ltd. increased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 938,563 shares of the transportation company's stock after acquiring an additional 110,047 shares during the period. Asset Management One Co. Ltd. owned approximately 0.05% of CSX worth $43,653,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Evolve Private Wealth LLC acquired a new stake in shares of CSX in the second quarter worth about $693,000. M. Kulyk & Associates LLC acquired a new position in shares of CSX during the 2nd quarter valued at about $8,145,000. Wealthfront Advisers LLC acquired a new position in shares of CSX during the 2nd quarter valued at about $7,609,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of CSX during the 2nd quarter valued at about $6,598,000. Finally, First National Bank of Omaha acquired a new position in shares of CSX during the 2nd quarter valued at about $6,248,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX News Roundup

Here are the key news stories impacting CSX this week:

• Positive Sentiment: CSX’s latest quarterly results exceeded expectations, with earnings per share of $0.57 versus the $0.53 consensus estimate and revenue of $4.02 billion versus expectations of $3.96 billion. Revenue increased 12% year over year, supporting the recent positive investment case. Does CSX Stock's Q3 Earnings Beat Justify a Buy Decision Today?
• Positive Sentiment: Susquehanna raised its CSX price target from $55 to $60 and maintained a positive rating, implying additional upside from recently quoted levels. Susquehanna raises target for CSX Corp stock to USD 60.00
• Positive Sentiment: Analyst commentary is also evaluating whether CSX has outperformed transportation peers this year, which may reinforce investor interest in the shares. Is CSX Stock Outpacing Its Transportation Peers This Year?

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSX shares. Stephens initiated coverage on CSX in a research note on Wednesday, July 8th. They issued an "overweight" rating and a $57.00 price objective on the stock. BMO Capital Markets reaffirmed a "market perform" rating and set a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Raymond James Financial set a $55.00 target price on CSX in a research report on Friday, October 23rd. UBS Group set a $54.00 price target on CSX in a report on Thursday, October 22nd. Finally, Argus set a $56.00 price target on shares of CSX in a research report on Friday, July 31st. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.20.

CSX Stock Performance

CSX opened at $51.98 on Thursday. The firm has a market capitalization of $95.82 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.27 and a beta of 1.21. The stock's 50 day moving average price is $48.81 and its two-hundred day moving average price is $45.34. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. CSX Corporation has a 12-month low of $33.63 and a 12-month high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that CSX Corporation will post 2.04 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX's payout ratio is 29.02%.

Insider Transactions at CSX

In other CSX news, Director John Zillmer sold 19,500 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the completion of the sale, the director directly owned 334,214 shares of the company's stock, valued at $17,125,125.36. This represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company's stock.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.

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