Park National Corp OH decreased its position in shares of CSX Co. (NASDAQ:CSX – Free Report) by 23.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,910 shares of the transportation company’s stock after selling 124,971 shares during the period. Park National Corp OH’s holdings in CSX were worth $14,217,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in CSX. Canandaigua National Bank & Trust Co. grew its holdings in CSX by 1.0% during the second quarter. Canandaigua National Bank & Trust Co. now owns 47,065 shares of the transportation company’s stock worth $1,605,000 after acquiring an additional 465 shares during the period. Berkshire Asset Management LLC PA bought a new position in shares of CSX during the 1st quarter valued at about $272,000. EP Wealth Advisors LLC acquired a new position in shares of CSX in the 1st quarter worth approximately $54,650,000. Ontario Teachers Pension Plan Board raised its holdings in shares of CSX by 12.3% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 103,039 shares of the transportation company’s stock worth $3,085,000 after purchasing an additional 11,262 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in CSX by 9.6% during the first quarter. ProShare Advisors LLC now owns 2,091,341 shares of the transportation company’s stock valued at $62,615,000 after purchasing an additional 183,067 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Benchmark restated a “buy” rating and issued a $37.00 price target on shares of CSX in a research report on Friday, July 21st. Bank of America upgraded CSX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $36.00 in a report on Friday, September 8th. Citigroup reduced their target price on CSX from $39.00 to $38.00 and set a “buy” rating for the company in a report on Friday, July 21st. Argus lifted their price target on CSX from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Finally, Stephens reaffirmed an “overweight” rating and set a $39.00 price objective on shares of CSX in a research note on Friday, July 21st. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.29.
CSX Trading Up 1.4 %
Shares of CSX stock opened at $30.92 on Thursday. CSX Co. has a 12 month low of $25.80 and a 12 month high of $34.38. The company has a market cap of $62.04 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.54 and a beta of 1.22. The company has a quick ratio of 1.21, a current ratio of 1.42 and a debt-to-equity ratio of 1.46. The business’s 50 day moving average is $31.82 and its two-hundred day moving average is $31.37.
CSX (NASDAQ:CSX – Get Free Report) last posted its earnings results on Thursday, July 20th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.73 billion. CSX had a net margin of 27.36% and a return on equity of 32.82%. CSX’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. Equities analysts predict that CSX Co. will post 1.9 EPS for the current year.
CSX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.42%. CSX’s dividend payout ratio is presently 22.22%.
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 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.
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