Tokio Marine Asset Management Co. Ltd. Increases Stake in CSX Co. (NASDAQ:CSX)

Tokio Marine Asset Management Co. Ltd. lifted its stake in CSX Co. (NASDAQ:CSX) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 49,306 shares of the transportation company’s stock after buying an additional 2,929 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in CSX were worth $1,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CSX by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after buying an additional 1,060,617 shares in the last quarter. Bank of Montreal Can boosted its stake in CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP grew its holdings in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $35.63 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company has a market capitalization of $68.71 billion, a PE ratio of 19.16, a P/E/G ratio of 2.32 and a beta of 1.19. The company has a 50 day moving average price of $34.26 and a 200-day moving average price of $33.87. CSX Co. has a fifty-two week low of $30.86 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 25.81%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upped their price objective on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday. Loop Capital lowered their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Stephens decreased their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.78.

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.