Dai ichi Life Insurance Company Ltd Trims Holdings in CSX Co. (NASDAQ:CSX)

Dai ichi Life Insurance Company Ltd reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 42.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,663 shares of the transportation company’s stock after selling 61,250 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in CSX were worth $2,765,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CSX. Norges Bank bought a new stake in shares of CSX during the 4th quarter valued at about $757,276,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares during the last quarter. Capital International Investors grew its stake in CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in CSX in the second quarter worth $116,430,000. Finally, M&G Plc bought a new stake in CSX in the first quarter valued at $126,089,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.2 %

Shares of NASDAQ:CSX opened at $33.52 on Monday. The stock has a market capitalization of $65.53 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.77 and a beta of 1.19. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a 50 day moving average price of $33.91 and a 200 day moving average price of $34.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. CSX’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts anticipate that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CSX shares. JPMorgan Chase & Co. increased their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price target on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. Evercore ISI upgraded CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Profile

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.