Park National Corp OH Sells 15,489 Shares of CSX Corporation $CSX

Key Points

• Park National Corp OH sold 15,489 shares of CSX Corporation, reducing its holdings by 10.3% to own 135,592 shares valued at approximately $4.4 million.
• CSX received mixed ratings from analysts, with price targets ranging from $32.00 to $45.00, after recent recommendations included raising its rating to "buy."
• CSX announced a quarterly dividend of $0.13, which represents an annual yield of 1.6%, with a dividend payout ratio of 32.10% as reported in its latest filings.

Park National Corp OH trimmed its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,592 shares of the transportation company's stock after selling 15,489 shares during the period. Park National Corp OH's holdings in CSX were worth $4,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of CSX in the fourth quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX during the first quarter valued at about $30,000. Rossby Financial LCC bought a new position in shares of CSX during the first quarter valued at about $28,000. Kessler Investment Group LLC bought a new position in shares of CSX during the first quarter valued at about $32,000. Finally, Putney Financial Group LLC bought a new position in shares of CSX during the fourth quarter valued at about $44,000. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSX. TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and raised their price target for the company from $32.00 to $45.00 in a research report on Monday, July 21st. BMO Capital Markets lowered shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target on the stock. in a research report on Monday, August 18th. Royal Bank Of Canada reissued a "sector perform" rating on shares of CSX in a research report on Thursday, July 24th. Robert W. Baird raised their price target on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Susquehanna reissued a "neutral" rating and set a $35.00 price target on shares of CSX in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Performance

NASDAQ CSX opened at $32.47 on Friday. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25. The company has a 50-day simple moving average of $34.26 and a 200 day simple moving average of $31.64. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The company has a market capitalization of $60.53 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.45 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. On average, research analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX's dividend payout ratio (DPR) is presently 32.10%.

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.

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