CSX Co. (NASDAQ:CSX) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 15.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 433,081 shares of the transportation company’s stock after buying an additional 57,134 shares during the period. Daiwa Securities Group Inc.’s holdings in CSX were worth $14,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of CSX by 581.7% during the 1st quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock worth $196,000 after purchasing an additional 4,508 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of CSX during the 1st quarter worth approximately $1,950,000. Interval Partners LP purchased a new position in shares of CSX during the 1st quarter worth approximately $19,996,000. B. Riley Wealth Advisors Inc. boosted its position in shares of CSX by 4.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 129,869 shares of the transportation company’s stock worth $4,814,000 after purchasing an additional 5,123 shares during the period. Finally, Meiji Yasuda Life Insurance Co boosted its position in shares of CSX by 25.0% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 35,214 shares of the transportation company’s stock worth $1,305,000 after purchasing an additional 7,048 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $35.78 on Monday. The company’s fifty day moving average price is $34.48 and its 200 day moving average price is $33.94. CSX Co. has a 12 month low of $31.65 and a 12 month high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a market capitalization of $69.00 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.27 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. CSX’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. CSX’s dividend payout ratio is presently 25.81%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. Evercore ISI decreased their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Susquehanna decreased their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

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.