Heritage Investors Management Corp Buys 9,114 Shares of CSX Co. (NASDAQ:CSX)

Heritage Investors Management Corp increased its stake in shares of CSX Co. (NASDAQ:CSX) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 532,445 shares of the transportation company’s stock after buying an additional 9,114 shares during the period. Heritage Investors Management Corp’s holdings in CSX were worth $17,182,000 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 CSX. Valley Wealth Managers Inc. boosted its position in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. raised its position in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 720 shares in the last quarter. Addison Advisors LLC raised its position in shares of CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $31.98 on Thursday. The business has a 50-day simple moving average of $32.59 and a two-hundred day simple moving average of $33.72. CSX Co. has a 12-month low of $31.43 and a 12-month high of $38.61. The stock has a market cap of $61.67 billion, a PE ratio of 17.87, a PEG ratio of 1.92 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.63%. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Ratings Changes

A number of equities analysts have commented on CSX shares. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 10th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Citigroup reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Royal Bank of Canada dropped their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Stephens reiterated an “overweight” rating and set a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $37.16.

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.