Nomura Asset Management Co. Ltd. increased its holdings in CSX Co. (NASDAQ:CSX) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 134,370 shares of the transportation company’s stock after acquiring an additional 4,832 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in CSX were worth $7,392,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in CSX by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 9,771,161 shares of the transportation company’s stock valued at $537,511,000 after purchasing an additional 60,453 shares in the last quarter. Alleghany Corp DE lifted its holdings in CSX by 7.1% during the fourth quarter. Alleghany Corp DE now owns 4,285,000 shares of the transportation company’s stock valued at $235,718,000 after purchasing an additional 285,000 shares in the last quarter. APG Asset Management N.V. lifted its holdings in CSX by 25.0% during the fourth quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock valued at $147,450,000 after purchasing an additional 644,500 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in CSX by 0.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,179,120 shares of the transportation company’s stock valued at $174,884,000 after purchasing an additional 12,684 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in CSX by 4.5% during the third quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock valued at $143,358,000 after purchasing an additional 113,493 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of CSX Co. (NASDAQ:CSX) opened at $58.00 on Friday. CSX Co. has a 1 year low of $45.41 and a 1 year high of $60.04. The firm has a market cap of $51,459.69, a price-to-earnings ratio of 9.56, a P/E/G ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.01 and a quick ratio of 0.81.
CSX declared that its board has authorized a share buyback plan on Monday, February 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a dividend of $0.22 per share. This is a boost from CSX’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.52%. CSX’s payout ratio is 14.50%.
Several equities analysts have weighed in on CSX shares. Scotiabank downgraded shares of CSX from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $63.00 to $43.00 in a report on Friday, January 12th. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research raised shares of CSX from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, January 19th. Royal Bank of Canada lifted their price target on shares of CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, Cowen reaffirmed an “outperform” rating and set a $62.00 price target (up previously from $61.00) on shares of CSX in a report on Friday, March 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. CSX has a consensus rating of “Buy” and a consensus target price of $60.71.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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