Mitsubishi UFJ Trust & Banking Corp Purchases 5,568,624 Shares of CSX Co. (NASDAQ:CSX)

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of CSX Co. (NASDAQ:CSX) by 471.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,748,661 shares of the transportation company’s stock after purchasing an additional 5,568,624 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.35% of CSX worth $217,808,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CSX. Rehmann Capital Advisory Group grew its holdings in shares of CSX by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after purchasing an additional 306 shares during the last quarter. Associated Banc Corp lifted its position in CSX by 0.6% during the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after buying an additional 310 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after buying an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in CSX by 1.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after acquiring an additional 313 shares during the last quarter. Finally, West Branch Capital LLC increased its position in CSX by 3.3% in the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after acquiring an additional 332 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 0.9 %

Shares of NASDAQ CSX opened at $29.85 on Tuesday. CSX Co. has a twelve month low of $28.98 and a twelve month high of $37.40. The stock has a market cap of $56.55 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company’s fifty day moving average is $31.99 and its 200-day moving average is $33.31.

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

CSX Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Citigroup decreased their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets dropped their target price on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Finally, Stephens reiterated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.00.

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.