Mitsubishi UFJ Asset Management Co. Ltd. Purchases 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 holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,575,308 shares of the transportation company's stock after buying an additional 364,612 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of CSX worth $105,221,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX during the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX in the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new position in CSX in the 4th quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC acquired a new position in CSX during the 1st quarter valued at about $30,000. Finally, Rossby Financial LCC bought a new stake in CSX during the 1st quarter worth approximately $28,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX opened at $35.25 on Friday. The firm has a 50-day moving average price of $33.49 and a 200-day moving average price of $31.46. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $65.72 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.69 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend 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 is 32.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CSX shares. Citigroup lifted their target price on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Baird R W upgraded shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Royal Bank Of Canada reiterated a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Stifel Nicolaus dropped their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 target price on shares of CSX in a report on Monday, June 2nd. 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's stock. According to MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus 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.

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