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

Daiwa Securities Group Inc. boosted its stake in CSX Co. (NASDAQ:CSX) by 11.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 321,912 shares of the transportation company’s stock after buying an additional 32,221 shares during the period. Daiwa Securities Group Inc.’s holdings in CSX were worth $11,161,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. High Net Worth Advisory Group LLC grew its position in shares of CSX by 1.7% during the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after purchasing an additional 304 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in shares of CSX by 1.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after purchasing an additional 304 shares in the last quarter. Cornercap Investment Counsel Inc. grew its position in shares of CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares in the last quarter. Park Place Capital Corp grew its position in shares of CSX by 12.1% during the 3rd quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock worth $94,000 after purchasing an additional 330 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. grew its position in shares of CSX by 2.4% during the 3rd quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock worth $434,000 after purchasing an additional 349 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $34.43 on Thursday. The company has a fifty day moving average price of $36.98 and a 200-day moving average price of $34.32. The company has a market capitalization of $67.40 billion, a P/E ratio of 18.57, a PEG ratio of 2.01 and a beta of 1.18. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05.

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

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. CSX’s dividend payout ratio is 26.09%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of analyst reports. TD Cowen increased their target price on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Jefferies Financial Group initiated coverage on shares of CSX in a report on Monday, April 8th. They set a “hold” rating and a $40.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. Stifel Nicolaus upped their price target on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 price objective on shares of CSX in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

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.