Heritage Investors Management Corp reduced its holdings in CSX Co. (NASDAQ:CSX) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,768 shares of the transportation company’s stock after selling 3,710 shares during the period. Heritage Investors Management Corp’s holdings in CSX were worth $16,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSX. Bank of New York Mellon Corp lifted its stake in shares of CSX by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 9,482,962 shares of the transportation company’s stock valued at $702,214,000 after purchasing an additional 193,133 shares during the last quarter. Martingale Asset Management L P acquired a new stake in CSX in the 3rd quarter worth approximately $520,000. GAM Holding AG acquired a new stake in CSX in the 3rd quarter worth approximately $375,000. Riverhead Capital Management LLC boosted its position in CSX by 90.7% during the third quarter. Riverhead Capital Management LLC now owns 25,563 shares of the transportation company’s stock worth $1,893,000 after purchasing an additional 12,160 shares during the period. Finally, Renaissance Technologies LLC boosted its position in CSX by 632.6% during the third quarter. Renaissance Technologies LLC now owns 827,100 shares of the transportation company’s stock worth $61,247,000 after purchasing an additional 714,200 shares during the period. Hedge funds and other institutional investors own 77.35% of the company’s stock.

In other news, Director Ridge Lp Mantle sold 1,930,318 shares of CSX stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the transaction, the director now directly owns 106 shares of the company’s stock, valued at $6,891.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.83% of the stock is owned by company insiders.

NASDAQ CSX traded down $0.93 on Tuesday, hitting $74.69. 4,139,417 shares of the company were exchanged, compared to its average volume of 5,118,958. CSX Co. has a 1-year low of $54.65 and a 1-year high of $77.15. The company has a market cap of $61.46 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.32 and a beta of 1.29. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.17.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. CSX had a return on equity of 24.18% and a net margin of 27.01%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts expect that CSX Co. will post 4.22 earnings per share for the current year.

CSX announced that its board has approved a share buyback program on Wednesday, January 16th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 9.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were paid a dividend of $0.24 per share. This is a positive change from CSX’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 27th. This represents a $0.96 annualized dividend and a yield of 1.29%. CSX’s dividend payout ratio (DPR) is presently 25.00%.

Several analysts recently issued reports on the stock. Argus reaffirmed a “buy” rating and set a $71.00 price objective on shares of CSX in a report on Friday, January 18th. Loop Capital lifted their price objective on CSX to $87.00 and gave the stock a “buy” rating in a research note on Thursday, January 17th. Stifel Nicolaus cut CSX from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a research report on Wednesday, March 6th. Morgan Stanley increased their target price on CSX from $55.00 to $56.00 and gave the company an “underweight” rating in a research note on Monday, January 7th. Finally, Royal Bank of Canada lowered their target price on CSX to $80.00 and set an “outperform” rating on the stock in a report on Thursday, January 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. CSX has a consensus rating of “Hold” and an average price target of $75.64.

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About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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