CSX Co. (NASDAQ:CSX) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,637 shares of the transportation company’s stock after selling 2,682 shares during the period. Sumitomo Life Insurance Co.’s holdings in CSX were worth $1,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Lecap Asset Management Ltd. purchased a new position in CSX during the fourth quarter worth about $843,000. Romano Brothers AND Company acquired a new stake in CSX during the fourth quarter worth $222,000. Capital Advisors Inc. OK purchased a new position in shares of CSX during the 4th quarter worth $303,000. Louisiana State Employees Retirement System purchased a new stake in CSX in the 4th quarter valued at about $9,586,000. Finally, Simplicity Solutions LLC lifted its position in CSX by 31.1% in the fourth quarter. Simplicity Solutions LLC now owns 90,050 shares of the transportation company’s stock valued at $3,122,000 after buying an additional 21,384 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Raymond James upped their price target on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. JPMorgan Chase & Co. cut their price objective on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Susquehanna boosted their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Finally, Benchmark upped their target price on shares of CSX from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.28.

CSX Stock Performance

Shares of CSX opened at $35.34 on Monday. The company has a market capitalization of $69.18 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.04 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 quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The stock has a 50 day moving average price of $37.11 and a 200 day moving average price of $34.26.

CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.97 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced 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 of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is 26.09%.

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.