Sumitomo Life Insurance Co. Raises Stake in CSX Co. (NASDAQ:CSX)

Sumitomo Life Insurance Co. lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,141 shares of the transportation company’s stock after acquiring an additional 1,101 shares during the period. Sumitomo Life Insurance Co.’s holdings in CSX were worth $1,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after acquiring an additional 443,755 shares during the period. Bank of New York Mellon Corp increased its position in shares of CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after buying an additional 1,060,617 shares during the period. Bank of Montreal Can lifted its position in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP lifted its position in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $35.47 on Thursday. The company has a 50-day moving average of $34.05 and a two-hundred day moving average of $33.99. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The stock has a market cap of $69.34 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.90 and a beta of 1.19.

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

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.35%. CSX’s dividend payout ratio is currently 26.37%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Susquehanna boosted their price target on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research note on Wednesday, October 2nd. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Citigroup assumed coverage on CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Barclays dropped their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $39.19.

CSX Company 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.