Park National Corp OH Reduces Holdings in CSX Co. (NASDAQ:CSX)

Park National Corp OH trimmed its stake in CSX Co. (NASDAQ:CSX - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,081 shares of the transportation company's stock after selling 26,771 shares during the period. Park National Corp OH's holdings in CSX were worth $4,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX in the 4th quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in CSX in the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new stake in CSX in the fourth quarter worth about $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of CSX in the 4th quarter worth approximately $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX stock traded up $0.08 during trading hours on Friday, hitting $31.50. 22,997,462 shares of the company's stock were exchanged, compared to its average volume of 13,047,068. The firm has a market cap of $59.17 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.92 and a beta of 1.22. The firm has a 50 day moving average of $29.06 and a two-hundred day moving average of $31.52. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.65%. CSX's dividend payout ratio is currently 31.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CSX shares. Wells Fargo & Company lowered their price target on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Raymond James restated an "outperform" rating and set a $33.00 target price (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. Barclays decreased their price objective on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They issued a "hold" rating and a $34.00 target price for the company. Finally, Susquehanna reduced their target price on CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.90.

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.