Dai Ichi Life Insurance Company Ltd raised its stake in shares of CSX Co. (NASDAQ:CSX) by 31.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 228,057 shares of the transportation company’s stock after purchasing an additional 55,187 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in CSX were worth $14,545,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. IMS Capital Management purchased a new position in shares of CSX in the second quarter valued at about $124,000. Archford Capital Strategies LLC purchased a new position in shares of CSX in the first quarter valued at about $109,000. Kaizen Advisory LLC lifted its position in shares of CSX by 150.5% in the second quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 1,300 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in shares of CSX in the first quarter valued at about $123,000. Finally, Sun Life Financial INC lifted its position in shares of CSX by 950.0% in the second quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 2,147 shares in the last quarter. 74.59% of the stock is owned by institutional investors and hedge funds.
Shares of CSX stock opened at $74.21 on Friday. CSX Co. has a 1 year low of $48.26 and a 1 year high of $76.24. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.98. The company has a market cap of $64.59 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 1.57 and a beta of 1.22.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, July 17th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. CSX had a return on equity of 19.31% and a net margin of 53.27%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. equities research analysts anticipate that CSX Co. will post 3.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.19%. CSX’s dividend payout ratio (DPR) is presently 38.26%.
Several equities analysts have recently commented on CSX shares. Goldman Sachs Group upgraded CSX from a “sell” rating to a “neutral” rating and set a $60.00 price objective on the stock in a research report on Monday, May 14th. BidaskClub upgraded CSX from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 22nd. Stifel Nicolaus started coverage on CSX in a research report on Thursday, May 24th. They issued a “buy” rating and a $73.00 price objective on the stock. Deutsche Bank set a $79.00 target price on CSX and gave the stock a “buy” rating in a research report on Friday, June 8th. Finally, Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. CSX currently has an average rating of “Buy” and an average price target of $69.45.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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