Meiji Yasuda Asset Management Co Ltd. Has $877,000 Stock Holdings in CSX Co. (NASDAQ:CSX)

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,189 shares of the transportation company’s stock after selling 1,210 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in CSX were worth $877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cerity Partners LLC grew its stake in shares of CSX by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock valued at $10,009,000 after purchasing an additional 50,913 shares during the period. Larson Financial Group LLC boosted its stake in CSX by 20.2% in the 3rd quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock valued at $206,000 after buying an additional 1,000 shares in the last quarter. Truvestments Capital LLC acquired a new position in CSX during the third quarter worth $149,000. The Manufacturers Life Insurance Company raised its stake in CSX by 4.3% during the third quarter. The Manufacturers Life Insurance Company now owns 2,679,505 shares of the transportation company’s stock worth $92,523,000 after acquiring an additional 109,422 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares during the period. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSX. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Robert W. Baird dropped their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Stephens reissued an “overweight” rating and issued a $38.00 target price on shares of CSX in a report on Friday, January 24th. Wells Fargo & Company dropped their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, Barclays reduced their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

CSX Stock Up 1.3 %

Shares of CSX stock opened at $29.90 on Thursday. The business has a fifty day simple moving average of $31.88 and a 200 day simple moving average of $33.26. The stock has a market cap of $56.65 billion, a PE ratio of 16.70, a price-to-earnings-growth 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. CSX Co. has a 12 month low of $28.98 and a 12 month high of $37.18.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. Research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

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

CSX 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.