Tokio Marine Asset Management Co. Ltd. Sells 2,687 Shares of CSX Corp. (CSX)
Tokio Marine Asset Management Co. Ltd. reduced its stake in CSX Corp. (NASDAQ:CSX) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,739 shares of the company’s stock after selling 2,687 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CSX Corp. were worth $697,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock valued at $975,389,000 after buying an additional 6,331,519 shares during the period. Lazard Asset Management LLC boosted its stake in shares of CSX Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 28,572,157 shares of the company’s stock valued at $735,731,000 after buying an additional 3,977,973 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of CSX Corp. by 664.9% in the first quarter. Pictet Asset Management Ltd. now owns 3,915,310 shares of the company’s stock valued at $94,516,000 after buying an additional 3,403,446 shares during the period. Bank of Montreal Can acquired a new stake in shares of CSX Corp. during the second quarter valued at approximately $52,018,000. Finally, State Street Corp boosted its stake in shares of CSX Corp. by 3.7% in the first quarter. State Street Corp now owns 39,232,512 shares of the company’s stock valued at $1,010,242,000 after buying an additional 1,398,858 shares during the period. 68.55% of the stock is owned by institutional investors and hedge funds.
CSX Corp. (NASDAQ:CSX) traded down 0.03% on Friday, reaching $31.05. The company’s stock had a trading volume of 10,591,620 shares. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.16. The company has a market cap of $29.37 billion, a P/E ratio of 16.95 and a beta of 1.23. The company has a 50-day moving average price of $29.17 and a 200 day moving average price of $27.31.
CSX Corp. (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The business earned $2.70 billion during the quarter, compared to the consensus estimate of $2.69 billion. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. On average, equities research analysts anticipate that CSX Corp. will post $1.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.18 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.72 annualized dividend and a yield of 2.32%. CSX Corp.’s dividend payout ratio is presently 39.13%.
Several equities research analysts have commented on CSX shares. Barclays PLC upgraded shares of CSX Corp. from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $35.00 in a research report on Monday, September 12th. BMO Capital Markets restated an “outperform” rating and set a $29.00 price objective on shares of CSX Corp. in a report on Thursday, July 7th. Wolfe Research upgraded CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Tuesday, September 13th. Citigroup Inc. restated a “buy” rating and set a $29.00 price objective on shares of CSX Corp. in a report on Thursday, July 14th. Finally, Bank of America Corp. restated a “buy” rating and set a $32.00 price objective on shares of CSX Corp. in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $29.54.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of CSX Corp. stock in a transaction on Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the completion of the transaction, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is owned by company insiders.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Corp. (NASDAQ:CSX).
Receive News & Ratings for CSX Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX Corp. and related companies with MarketBeat.com's FREE daily email newsletter.