Daiwa Securities Group Inc. Purchases 32,221 Shares of CSX Co. (NASDAQ:CSX)

Daiwa Securities Group Inc. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,912 shares of the transportation company’s stock after buying an additional 32,221 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CSX were worth $11,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sfmg LLC grew its position in shares of CSX by 1.0% during the 4th quarter. Sfmg LLC now owns 296,757 shares of the transportation company’s stock worth $10,289,000 after buying an additional 2,874 shares in the last quarter. Kiley Juergens Wealth Management LLC lifted its stake in shares of CSX by 16.6% during the 4th quarter. Kiley Juergens Wealth Management LLC now owns 12,644 shares of the transportation company’s stock worth $438,000 after purchasing an additional 1,800 shares during the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of CSX during the 4th quarter worth $285,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CSX by 5.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock worth $25,078,000 after purchasing an additional 34,730 shares during the last quarter. Finally, SVB Wealth LLC lifted its stake in shares of CSX by 8.3% during the 4th quarter. SVB Wealth LLC now owns 36,415 shares of the transportation company’s stock worth $1,262,000 after purchasing an additional 2,792 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America decreased their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen upped their price objective on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. decreased their price objective on CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Benchmark increased their price target on CSX from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

CSX Stock Up 0.8 %

Shares of CSX stock opened at $34.43 on Thursday. The stock’s 50-day simple moving average is $36.98 and its 200-day simple moving average is $34.32. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The firm has a market capitalization of $67.40 billion, a PE ratio of 18.57, a P/E/G ratio of 2.01 and a beta of 1.18. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Equities analysts expect that CSX Co. will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.39%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is 26.09%.

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.