Nissay Asset Management Corp Japan ADV Acquires 37,505 Shares of CSX Corporation $CSX

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in CSX Corporation by 8.7%, owning 470,775 shares valued at approximately $13.9 million after acquiring additional shares in Q1.
• Several hedge funds recently made new investments in CSX, with institutional investors currently holding 73.57% of the company’s stock.
• CSX announced a $0.13 quarterly dividend to be paid on September 15th, representing an annualized yield of 1.6%, with a payout ratio of 32.10%.

Nissay Asset Management Corp Japan ADV boosted its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,775 shares of the transportation company's stock after purchasing an additional 37,505 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in CSX were worth $13,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CWA Asset Management Group LLC boosted 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 worth $368,000 after buying an additional 1,642 shares during the period. Dynamic Advisor Solutions LLC raised 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 in the last quarter. Farther Finance Advisors LLC raised its stake in 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 purchasing an additional 5,382 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CSX by 23.2% in the 1st quarter. GAMMA Investing LLC now owns 35,910 shares of the transportation company's stock valued at $1,057,000 after buying an additional 6,766 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of CSX by 9.3% in the 1st quarter. Public Sector Pension Investment Board now owns 262,505 shares of the transportation company's stock valued at $7,726,000 after buying an additional 22,367 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Stock Up 1.5%

Shares of CSX stock traded up $0.49 during trading on Thursday, reaching $32.54. 3,405,636 shares of the company traded hands, compared to its average volume of 16,815,789. 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 1-year low of $26.22 and a 1-year high of $37.25. The company has a 50 day moving average price of $34.29 and a 200-day moving average price of $31.63. The firm has a market capitalization of $60.65 billion, a PE ratio of 20.08, a P/E/G ratio of 2.40 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last released 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 company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the company earned $0.49 EPS. CSX's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

Analyst Upgrades and Downgrades

CSX has been the subject of several analyst reports. Baird R W upgraded shares of CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. TD Cowen raised shares of 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 shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Barclays lifted their price target on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Raymond James Financial lifted their price target on shares of CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.