Mitsubishi UFJ Asset Management Co. Ltd. Buys 364,612 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in CSX Corporation by 11.4%, with a total of 3,575,308 shares valued at approximately $105.2 million as of their recent SEC filing.
• CSX Corporation reported earnings of $0.44 per share for the last quarter, exceeding analysts' expectations, despite a 3.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.13 per share, representing an annualized yield of 1.5%, with the dividend payout ratio standing at 32.10%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,575,308 shares of the transportation company's stock after acquiring an additional 364,612 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of CSX worth $105,221,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in CSX by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after purchasing an additional 5,033,743 shares in the last quarter. Lazard Asset Management LLC increased its holdings in CSX by 3.5% during the 4th quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock valued at $681,696,000 after purchasing an additional 707,934 shares in the last quarter. Northern Trust Corp increased its holdings in CSX by 13.8% during the 4th quarter. Northern Trust Corp now owns 21,097,789 shares of the transportation company's stock valued at $680,826,000 after purchasing an additional 2,550,929 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after purchasing an additional 9,863,587 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of CSX by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,886,109 shares of the transportation company's stock valued at $544,904,000 after buying an additional 1,215,517 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX stock traded up $0.55 on Tuesday, reaching $35.78. The stock had a trading volume of 11,566,473 shares, compared to its average volume of 15,939,027. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market cap of $66.69 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.64 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The business's 50 day moving average is $33.64 and its two-hundred day moving average is $31.46.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.57 billion. During the same quarter last year, the business posted $0.49 earnings per share. The firm's revenue was down 3.5% compared to the same quarter last year. As a group, research analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. CSX's dividend payout ratio (DPR) is presently 32.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CSX shares. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $36.00 price target (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Argus set a $32.00 price target on CSX in a research note on Friday, April 25th. Susquehanna reaffirmed a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, BMO Capital Markets lifted their price objective on CSX from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average price target of $37.00.

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.