Mitsubishi UFJ Trust & Banking Corp Has $189.74 Million Stake 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 holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,447,276 shares of the transportation company's stock after selling 301,385 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.34% of CSX worth $189,743,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the 4th quarter worth about $27,000. Rossby Financial LCC acquired a new stake in CSX during the 1st quarter worth about $28,000. Accredited Wealth Management LLC acquired a new stake in CSX during the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX during the 4th quarter worth about $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in CSX during the 1st quarter worth about $30,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX traded up $0.45 on Monday, reaching $35.46. 13,545,316 shares of the stock traded hands, compared to its average volume of 21,068,458. The firm has a market cap of $66.11 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The stock's 50-day moving average price is $33.14 and its 200-day moving average price is $31.36.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. CSX's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

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 1.5%. CSX's payout ratio is currently 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Bank of America upgraded CSX from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $34.00 to $42.00 in a research report on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of CSX in a report on Thursday, July 24th. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and lifted their price target for the company from $32.00 to $45.00 in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded CSX from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus 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.