Nomura Asset Management Co. Ltd. Has $20.70 Million Position in CSX Co. (NASDAQ:CSX)

Nomura Asset Management Co. Ltd. decreased its position in shares of CSX Co. (NASDAQ:CSX) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 641,551 shares of the transportation company’s stock after selling 11,474 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in CSX were worth $20,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of CSX during the fourth quarter valued at $780,194,000. Bank of New York Mellon Corp lifted its position in CSX by 40.5% during the 4th 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 during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock valued at $217,808,000 after purchasing an additional 5,568,624 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CSX during the 4th quarter worth approximately $85,959,000. Finally, Perpetual Ltd bought a new stake in shares of CSX during the fourth quarter worth approximately $83,301,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

CSX opened at $29.11 on Friday. The company has a market capitalization of $54.86 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. The business’s 50-day moving average price is $31.75 and its two-hundred day moving average price is $33.20. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

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

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSX. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Royal Bank of Canada decreased their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Susquehanna cut their price target on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.75.

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.