Mitsubishi UFJ Asset Management Co. Ltd. Invests $224.81 Million in CSX Corporation $CSX

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,729,835 shares of the transportation company’s stock, valued at approximately $224,809,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.26% of CSX at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CSX. N.E.W. Advisory Services LLC bought a new position in CSX in the second quarter worth about $27,000. Arlington Trust Co LLC lifted its position in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in CSX during the second quarter valued at approximately $37,000. Wilkerson Advisory Group LLC boosted its stake in CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new stake in CSX in the second quarter valued at approximately $28,000. Institutional investors own 73.57% of the company’s stock.

Insider Buying and Selling at CSX

In other news, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were 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 of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 189,708 shares of company stock valued at $9,132,304. Corporate insiders own 0.30% of the company’s stock.

CSX Stock Up 0.8%

CSX stock opened at $50.58 on Tuesday. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The firm’s fifty day moving average is $49.08 and its 200 day moving average is $44.83. The firm has a market cap of $93.70 billion, a PE ratio of 29.24, a P/E/G ratio of 2.29 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts forecast that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is currently 32.37%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird upped their price target on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $59.00 price objective on shares of CSX in a research report on Friday, July 24th. Vertical Research downgraded CSX from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a research note on Thursday, April 23rd. Weiss Ratings raised CSX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and increased their price target for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.