Meiji Yasuda Asset Management Co Ltd. Makes New $4.73 Million Investment in CSX Corporation $CSX

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in CSX Corporation (NASDAQ:CSX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 99,423 shares of the transportation company’s stock, valued at approximately $4,726,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Magellan Asset Management Ltd bought a new stake in shares of CSX during the second quarter worth $42,366,000. Twin Tree Management LP bought a new stake in CSX in the 2nd quarter valued at $716,000. Haverford Trust Co bought a new position in shares of CSX during the 2nd quarter worth approximately $301,000. Clear Harbor Asset Management LLC bought a new position in shares of CSX during the 2nd quarter worth approximately $956,000. Finally, First Nebraska Trust Co acquired a new stake in shares of CSX in the second quarter valued at approximately $533,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $51.59 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The company has a fifty day moving average price of $49.38 and a two-hundred day moving average price of $45.20. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The stock has a market cap of $95.57 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21.

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

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is currently 32.37%.

Insider Activity at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 189,708 shares of company stock valued at $9,132,304 in the last 90 days. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Morgan Stanley set a $32.00 target price on shares of CSX and gave the company an “underweight” rating in a research report on Monday, July 6th. Citizens Jmp began coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Barclays restated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company raised their price objective on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Eighteen 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Company 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.