Resona Asset Management Co. Ltd. Buys New Holdings in CSX Co. (NASDAQ:CSX)

Resona Asset Management Co. Ltd. purchased a new position in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 588,023 shares of the transportation company’s stock, valued at approximately $18,992,000.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in CSX during the 4th quarter worth approximately $780,194,000. Bank of New York Mellon Corp raised its stake in shares of CSX by 40.5% in 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 acquiring an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of CSX by 471.9% during 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 acquiring an additional 5,568,624 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CSX during the 4th quarter worth $85,959,000. Finally, Perpetual Ltd acquired a new stake in CSX in the 4th quarter valued at $83,301,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several analyst reports. Citigroup decreased their target price on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Barclays reduced their target price on shares of CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday. Benchmark reissued a “buy” rating and issued a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Finally, Susquehanna dropped their target price on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

CSX Trading Down 2.8 %

NASDAQ:CSX opened at $27.21 on Friday. CSX Co. has a 1 year low of $26.95 and a 1 year high of $37.10. The business has a fifty day moving average of $31.32 and a 200-day moving average of $33.03. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The stock has a market cap of $51.28 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.92 and a beta of 1.22.

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

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.13 per share. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.91%. CSX’s 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.