Heritage Wealth Management Inc. Purchases Shares of 27,574 CSX Co. (NASDAQ:CSX)

Heritage Wealth Management Inc. purchased a new stake in CSX Co. (NASDAQ:CSX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 27,574 shares of the transportation company’s stock, valued at approximately $918,000.

A number of other hedge funds also recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD raised its position in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares in the last quarter. Capital International Investors raised its position in shares of CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares in the last quarter. Interval Partners LP raised its position in shares of CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CSX during the 2nd quarter worth about $116,430,000. Finally, M&G Plc acquired a new stake in shares of CSX during the 1st quarter worth about $126,089,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 0.0 %

Shares of CSX stock opened at $34.52 on Wednesday. The business’s 50 day moving average is $33.94 and its two-hundred day moving average is $34.17. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a market capitalization of $67.48 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. Equities analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the topic of several research analyst reports. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Evercore ISI upgraded CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.93.

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.