Daiwa Securities Group Inc. Has $14.96 Million Position in CSX Co. (NASDAQ:CSX)

Daiwa Securities Group Inc. raised its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 15.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 433,081 shares of the transportation company's stock after buying an additional 57,134 shares during the quarter. Daiwa Securities Group Inc.'s holdings in CSX were worth $14,955,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in shares of CSX in the second quarter valued at about $26,000. Valley Wealth Managers Inc. raised its holdings in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of CSX in the 2nd quarter worth approximately $27,000. Morton Brown Family Wealth LLC acquired a new stake in shares of CSX during the 3rd quarter worth approximately $31,000. Finally, Fairscale Capital LLC bought a new stake in shares of CSX during the second quarter valued at approximately $32,000. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CSX. Royal Bank of Canada reduced their target price on CSX from $36.00 to $35.00 and set a "sector perform" rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Susquehanna lowered their target price on shares of CSX from $42.00 to $40.00 and set a "positive" rating on the stock in a research note on Thursday, October 17th. TD Cowen cut their price target on shares of CSX from $36.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, October 17th. Finally, Citigroup lifted their price objective on CSX from $42.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.78.

CSX Price Performance

NASDAQ CSX traded up $0.84 on Monday, hitting $36.62. 13,873,066 shares of the company were exchanged, compared to its average volume of 11,700,563. CSX Co. has a 1-year low of $31.65 and a 1-year high of $40.12. The firm has a 50 day moving average of $34.53 and a two-hundred day moving average of $33.96. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market cap of $70.62 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.27 and a beta of 1.19.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The company's revenue was up 1.3% on a year-over-year basis. On average, equities analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. CSX's payout ratio is 25.81%.

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.