Heritage Investors Management Corp Has $17.18 Million Stock Position in CSX Co. (NASDAQ:CSX)

Heritage Investors Management Corp raised its position in shares of CSX Co. (NASDAQ:CSX) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 532,445 shares of the transportation company’s stock after purchasing an additional 9,114 shares during the quarter. Heritage Investors Management Corp’s holdings in CSX were worth $17,182,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Perpetual Ltd bought a new position in CSX in the fourth quarter worth approximately $83,301,000. FMR LLC grew its stake in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares during the period. KBC Group NV increased its holdings in shares of CSX by 616.4% during the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after acquiring an additional 958,957 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after purchasing an additional 857,302 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CSX shares. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Stephens restated an “overweight” rating and issued a $38.00 target price on shares of CSX in a report on Friday, January 24th. BMO Capital Markets cut their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Susquehanna lowered their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Price Performance

CSX opened at $31.98 on Thursday. CSX Co. has a fifty-two week low of $31.43 and a fifty-two week high of $38.61. The firm has a 50-day moving average of $32.59 and a 200 day moving average of $33.72. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a market cap of $61.67 billion, a P/E ratio of 17.87, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. On average, research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.63%. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. CSX’s dividend payout ratio is 29.05%.

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.