CSX Corporation $CSX Shares Acquired by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan boosted its position in CSX Corporation (NASDAQ:CSX) by 6.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 552,171 shares of the transportation company’s stock after buying an additional 33,091 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in CSX were worth $26,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Archer Investment Corp bought a new position in CSX in the 2nd quarter worth about $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $27,000. WFA of San Diego LLC bought a new stake in shares of CSX during the second quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of CSX during the second quarter valued at approximately $29,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of CSX during the second quarter valued at approximately $30,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Down 0.5%

Shares of NASDAQ:CSX opened at $51.28 on Friday. The company has a 50 day moving average of $49.91 and a 200-day moving average of $45.57. The firm has a market cap of $94.99 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.35 and a beta of 1.21. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 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 business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business 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, analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Insider Transactions at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 189,708 shares of company stock valued at $9,132,304. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup increased their price objective on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. TD Cowen lifted their target price on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $50.00 to $58.00 in a research report on Tuesday, July 14th. Truist Financial set a $46.00 price target on CSX in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 price target (up from $51.00) on shares of CSX in a research note on Thursday, July 23rd. Eighteen investment 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. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

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.