Mitsubishi UFJ Trust & Banking Corp Purchases 5,568,624 Shares of CSX Co. (NASDAQ:CSX)

Mitsubishi UFJ Trust & Banking Corp grew its position in CSX Co. (NASDAQ:CSX) by 471.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,748,661 shares of the transportation company’s stock after buying an additional 5,568,624 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in CSX were worth $217,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of CSX during the 4th quarter worth about $85,959,000. Perpetual Ltd bought a new position in shares of CSX in the 4th quarter valued at about $83,301,000. Sound Shore Management Inc. CT acquired a new stake in shares of CSX in the fourth quarter valued at about $67,825,000. Finally, River Road Asset Management LLC bought a new stake in CSX during the fourth quarter worth about $46,861,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX opened at $29.85 on Tuesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business has a fifty day simple moving average of $31.99 and a 200 day simple moving average of $33.31. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.40. The company has a market capitalization of $56.55 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is presently 29.05%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Citigroup decreased their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company decreased their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, BMO Capital Markets lowered their price objective on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.