Mitsubishi UFJ Asset Management Co. Ltd. Purchases 288,248 Shares of CSX Co. (NASDAQ:CSX)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of CSX Co. (NASDAQ:CSX) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,210,696 shares of the transportation company’s stock after acquiring an additional 288,248 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CSX were worth $103,834,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in CSX during the 4th quarter valued at $31,000. Sierra Ocean LLC bought a new stake in shares of CSX during the 4th quarter valued at about $33,000. Center for Financial Planning Inc. increased its position in shares of CSX by 205.7% during the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares during the period. Atala Financial Inc bought a new position in CSX in the fourth quarter worth about $36,000. Finally, Millstone Evans Group LLC purchased a new stake in CSX in the fourth quarter worth about $37,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. Barclays reduced their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Citigroup lowered their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Robert W. Baird reduced their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Susquehanna lowered their price target on shares of CSX from $39.00 to $37.00 and set a “positive” rating for the company 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.75.

CSX Trading Up 0.1 %

Shares of NASDAQ:CSX opened at $29.92 on Friday. CSX Co. has a 1 year low of $28.98 and a 1 year high of $37.18. The stock’s fifty day moving average price is $31.82 and its 200-day moving average price is $33.23. The company has a market cap of $56.69 billion, a P/E ratio of 16.72, a PEG ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. Sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.74%. CSX’s payout ratio is currently 29.05%.

About CSX

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.