Park National Corp OH Sells 13,764 Shares of CSX Co. (NASDAQ:CSX)

Park National Corp OH lessened its position in shares of CSX Co. (NASDAQ:CSX) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,050 shares of the transportation company’s stock after selling 13,764 shares during the period. Park National Corp OH’s holdings in CSX were worth $6,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Itau Unibanco Holding S.A. bought a new position in shares of CSX during the second quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new position in CSX during the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX during the first quarter valued at approximately $29,000. Fairscale Capital LLC bought a new stake in CSX during the second quarter worth $32,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of CSX in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSX. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Tuesday, August 6th. JPMorgan Chase & Co. raised their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Finally, Sanford C. Bernstein upped their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

CSX Stock Performance

Shares of CSX stock opened at $34.17 on Thursday. The stock has a market cap of $66.80 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm’s 50-day moving average is $33.96 and its 200 day moving average is $34.17.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.