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

Nomura Asset Management Co. Ltd. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 large investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in CSX during the fourth quarter worth approximately $31,000. Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. lifted its holdings in CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the last quarter. Atala Financial Inc bought a new stake in CSX in the 4th quarter valued at $36,000. Finally, Millstone Evans Group LLC bought a new stake in CSX in the 4th quarter valued at $37,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Citigroup dropped their price objective 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. Benchmark restated a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Finally, Wells Fargo & Company reduced their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

CSX Trading Down 2.7 %

CSX opened at $29.11 on Friday. The company has a market cap of $54.86 billion, a P/E ratio of 16.26, a PEG ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is $31.75 and its 200-day moving average is $33.20. CSX Co. has a 1-year low of $28.98 and a 1-year high of $37.10.

CSX (NASDAQ:CSX) last issued its 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 net margin of 23.95% and a return on equity of 28.15%. Equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

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

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.