Sumitomo Mitsui Trust Group Inc. Purchases 78,990 Shares of CSX Co. (NASDAQ:CSX)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,859,424 shares of the transportation company's stock after acquiring an additional 78,990 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of CSX worth $167,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CSX. Sei Investments Co. grew its holdings in shares of CSX by 4.2% in the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company's stock worth $22,146,000 after purchasing an additional 23,938 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in CSX by 2.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 313,381 shares of the transportation company's stock valued at $11,617,000 after acquiring an additional 7,802 shares during the period. Koshinski Asset Management Inc. grew its position in CSX by 26.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 19,834 shares of the transportation company's stock worth $735,000 after purchasing an additional 4,166 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in CSX by 18.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,449,480 shares of the transportation company's stock valued at $90,802,000 after acquiring an additional 374,639 shares during the period. Finally, Beacon Investment Advisory Services Inc. bought a new stake in CSX during the first quarter valued at approximately $348,000. Institutional investors own 73.57% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CSX. Stephens lowered their price target on CSX from $41.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Loop Capital lowered their price target on shares of CSX from $43.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada decreased their price target on shares of CSX from $36.00 to $35.00 and set a "sector perform" rating for the company in a research report on Thursday, October 17th. Finally, TD Cowen cut their price objective on shares of CSX from $36.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.78.

CSX Stock Performance

CSX traded up $0.35 during midday trading on Wednesday, reaching $36.48. The company's stock had a trading volume of 8,667,968 shares, compared to its average volume of 11,724,744. 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 stock has a market cap of $70.35 billion, a P/E ratio of 19.52, a PEG ratio of 2.29 and a beta of 1.19. The company has a fifty day simple moving average of $34.22 and a 200 day simple moving average of $33.85. CSX Co. has a twelve month low of $30.86 and a twelve month high of $40.12.

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

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, November 29th. CSX's dividend payout ratio is currently 25.81%.

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.