Park Avenue Securities LLC Has $2.83 Million Stake in CSX Co. (NASDAQ:CSX)

Park Avenue Securities LLC grew its stake in shares of CSX Co. (NASDAQ:CSX) by 6.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 76,256 shares of the transportation company’s stock after buying an additional 4,823 shares during the period. Park Avenue Securities LLC’s holdings in CSX were worth $2,827,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after buying an additional 9,914,656 shares during the period. Capital International Investors increased its stake in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Lazard Asset Management LLC raised its position in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares in the last quarter. Morgan Stanley lifted its stake in CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in CSX by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after purchasing an additional 470,640 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.3 %

CSX opened at $33.41 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The firm has a market capitalization of $65.31 billion, a P/E ratio of 18.36, a PEG ratio of 1.72 and a beta of 1.19. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company’s 50-day moving average is $33.61 and its 200 day moving average is $35.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. CSX’s revenue was down .8% on a year-over-year basis. Research analysts expect that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CSX shares. Susquehanna raised their target price on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. Royal Bank of Canada dropped their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company initiated coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.82.

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.