Sumitomo Life Insurance Co. Purchases 1,101 Shares of CSX Co. (NASDAQ:CSX)

by · The Markets Daily

Sumitomo Life Insurance Co. raised its holdings in CSX Co. (NASDAQ:CSX – Free Report) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,141 shares of the transportation company’s stock after acquiring an additional 1,101 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in CSX were worth $1,559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SageView Advisory Group LLC increased its holdings in shares of CSX by 13.2% in the fourth quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock worth $264,000 after acquiring an additional 858 shares in the last quarter. Rise Advisors LLC raised its holdings in shares of CSX by 287.7% in the first quarter. Rise Advisors LLC now owns 1,361 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,010 shares during the last quarter. Czech National Bank lifted its position in shares of CSX by 0.5% in the first quarter. Czech National Bank now owns 347,702 shares of the transportation company’s stock worth $12,889,000 after purchasing an additional 1,595 shares in the last quarter. Wedmont Private Capital boosted its holdings in CSX by 7.9% during the first quarter. Wedmont Private Capital now owns 15,138 shares of the transportation company’s stock worth $544,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in CSX by 6.8% during the 1st quarter. Park Avenue Securities LLC now owns 76,256 shares of the transportation company’s stock worth $2,827,000 after buying an additional 4,823 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $35.47 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $69.34 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.90 and a beta of 1.19. The firm has a 50-day moving average price of $34.05 and a two-hundred day moving average price of $33.99. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

Analysts Set New Price Targets

CSX has been the topic of a number of recent research reports. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Citigroup began coverage on shares of CSX in a report on Wednesday, October 9th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price target on shares of CSX in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.19.

Read Our Latest Stock Report on CSX

About CSX

(Free Report)

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.

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