Meiji Yasuda Asset Management Co Ltd. Purchases New Holdings in CSX Corporation $CSX

Meiji Yasuda Asset Management Co Ltd. acquired a new position in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 99,423 shares of the transportation company’s stock, valued at approximately $4,726,000.

Other large investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the 2nd quarter valued at $27,000. Arlington Trust Co LLC raised its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of CSX during the second quarter valued at $34,000. Allied Private Wealth LLC acquired a new position in shares of CSX during the second quarter valued at $37,000. Finally, Wilkerson Advisory Group LLC boosted its holdings in CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CSX shares. Citigroup lifted their price objective on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Barclays restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Argus set a $56.00 target price on shares of CSX in a research note on Friday, July 31st. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. Finally, Raymond James Financial reissued an “outperform” rating and set a $56.00 price target on shares of CSX in a research note on Monday, July 13th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.31.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $51.59 on Monday. The firm’s 50 day simple moving average is $49.38 and its 200 day simple moving average is $45.20. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The company has a market capitalization of $95.57 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.36 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (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 firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.14 dividend. 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 32.37%.

Insider Activity

In related news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction 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 trade represents a 74.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,708 shares of company stock worth $9,132,304 over the last quarter. Corporate 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.