Daiichi Life Insurance Co. Ltd. Takes $4.66 Million Position in CSX Corporation $CSX

Daiichi Life Insurance Co. Ltd. bought a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 98,129 shares of the transportation company’s stock, valued at approximately $4,664,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commerce Bank bought a new stake in CSX during the second quarter valued at $12,215,000. Pinnbrook Capital Management LP acquired a new stake in CSX during the 2nd quarter worth about $44,677,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of CSX in the 2nd quarter worth about $18,593,000. CFO4Life Group LLC bought a new position in shares of CSX in the 2nd quarter worth about $4,470,000. Finally, Quantbot Technologies LP acquired a new position in shares of CSX in the 2nd quarter valued at about $833,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup upped their target price on CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Evercore set a $51.00 target price on CSX in a report on Thursday, July 23rd. Bank of America boosted their price target on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price objective on shares of CSX in a research report on Thursday, July 23rd. Finally, Argus set a $56.00 price objective on shares of CSX in a research report on Friday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.31.

CSX Price Performance

Shares of CSX opened at $51.59 on Monday. The business’s fifty day moving average is $49.38 and its 200 day moving average is $45.20. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a market cap of $95.57 billion, a P/E ratio of 29.82, a P/E/G ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the business posted $0.44 EPS. CSX’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s payout ratio is presently 32.37%.

Insider Buying and Selling at CSX

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 189,708 shares of company stock valued at $9,132,304. Insiders own 0.30% of the company’s stock.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.