Mitsubishi UFJ Asset Management Co. Ltd. Buys 288,248 Shares of CSX Co. (NASDAQ:CSX)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in CSX Co. (NASDAQ:CSX) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,210,696 shares of the transportation company’s stock after purchasing an additional 288,248 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of CSX worth $103,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its holdings in CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after buying an additional 455,258 shares during the period. Geode Capital Management LLC lifted its position in shares of CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of CSX by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after acquiring an additional 299,536 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after acquiring an additional 6,730,316 shares during the period. Finally, FMR LLC grew its position in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 0.1 %

Shares of NASDAQ CSX opened at $29.92 on Friday. The stock has a market capitalization of $56.69 billion, a P/E ratio of 16.72, a PEG ratio of 1.92 and a beta of 1.25. CSX Co. has a one year low of $28.98 and a one year high of $37.18. The firm’s 50 day simple moving average is $31.82 and its two-hundred day simple moving average is $33.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CSX shares. JPMorgan Chase & Co. dropped their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Susquehanna lowered their target price on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

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.