Mitsubishi UFJ Trust & Banking Corp Cuts Position in CSX Corporation (NASDAQ:CSX)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its holdings in CSX Corporation by 4.5%, owning approximately 0.34% of the company valued at $189.74 million.
• Several hedge funds have increased their stakes in CSX, with Wellington Management growing its holdings by 14.7% in the last quarter.
• Analysts have upgraded CSX's stock ratings, with Citigroup raising its price target from $36 to $38, and Bank of America increasing its target from $34 to $42.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,447,276 shares of the transportation company's stock after selling 301,385 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.34% of CSX worth $189,743,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSX. Wellington Management Group LLP lifted its position in shares of CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after buying an additional 15,029 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of CSX by 15.1% during the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock valued at $368,000 after buying an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in CSX by 9.8% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after purchasing an additional 3,458 shares during the period. Farther Finance Advisors LLC grew its position in shares of CSX by 61.4% in the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after buying an additional 5,382 shares during the last quarter. Finally, Cercano Management LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $4,869,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock traded up $0.36 during midday trading on Wednesday, reaching $36.01. 12,124,229 shares of the stock traded hands, compared to its average volume of 16,025,251. The stock's fifty day moving average is $33.32 and its 200-day moving average is $31.41. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The stock has a market cap of $67.13 billion, a P/E ratio of 22.23, a PEG ratio of 2.65 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. As a group, equities research analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm 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 dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CSX shares. Susquehanna restated a "neutral" rating and set a $35.00 price target on shares of CSX in a research report on Tuesday, June 24th. Barclays upped their price target on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Jefferies Financial Group lowered their price target on CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Citigroup upped their price objective on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, UBS Group reduced their price objective on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Seven equities research 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, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.