Meiji Yasuda Asset Management Co Ltd. Has $4.15 Million Stake in CSX Corporation $CSX

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its stake in CSX Corporation by 418.8%, owning 141,061 shares worth approximately $4.15 million as of the end of the last quarter.
• CSX's stock is currently trading at $32.43, reflecting a slight decline of 0.3%, with a market cap of $60.46 billion and a P/E ratio of 20.02.
• The company announced a quarterly dividend of $0.13 per share, which will be paid on September 15th, representing an annual yield of 1.6%.

Meiji Yasuda Asset Management Co Ltd. raised its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 418.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,061 shares of the transportation company's stock after purchasing an additional 113,872 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in CSX were worth $4,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSX. Rossby Financial LCC purchased a new stake in shares of CSX during the 1st quarter worth about $28,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX in the 4th quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the 1st quarter valued at approximately $30,000. Kessler Investment Group LLC bought a new position in shares of CSX in the 1st quarter valued at approximately $32,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of CSX by 45.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company's stock valued at $39,000 after acquiring an additional 444 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of NASDAQ:CSX traded up $0.80 during trading on Thursday, hitting $32.85. 10,278,607 shares of the stock were exchanged, compared to its average volume of 22,608,324. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25. The company has a market capitalization of $61.24 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.39 and a beta of 1.25. The company's fifty day simple moving average is $34.28 and its 200-day simple moving average is $31.64. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm earned $0.49 EPS. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. Sell-side analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.6%. CSX's payout ratio is currently 32.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CSX. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Wall Street Zen downgraded CSX from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Citigroup upped their price target on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Company 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.