Daiichi Life Insurance Co. Ltd. Buys Shares of 98,129 CSX Corporation $CSX

Daiichi Life Insurance Co. Ltd. bought a new position in shares of CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 98,129 shares of the transportation company’s stock, valued at approximately $4,664,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the 2nd quarter valued at approximately $27,000. WFA of San Diego LLC acquired a new position in CSX during the 2nd quarter worth approximately $28,000. Arlington Trust Co LLC increased its position in CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC lifted its stake in CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in CSX in the 2nd quarter valued at approximately $34,000. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CSX. Citigroup boosted their target price on shares of CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. 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. BMO Capital Markets restated a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, Rothschild & Co Redburn upped their target price on CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a report on Tuesday, April 28th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Stock Performance

CSX opened at $51.59 on Monday. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. 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 firm has a market capitalization of $95.57 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.36 and a beta of 1.21. The company’s 50 day moving average price is $49.38 and its two-hundred day moving average price is $45.20.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations 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 company posted $0.44 EPS. As a group, research analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. 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 (DPR) is currently 32.37%.

Insider Buying and Selling

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 transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,708 shares of company stock valued at $9,132,304 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

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.