Park National Corp OH Sells 81,725 Shares of CSX Corporation $CSX

Park National Corp OH trimmed its holdings in shares of CSX Corporation (NASDAQ:CSX) by 60.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,867 shares of the transportation company’s stock after selling 81,725 shares during the quarter. Park National Corp OH’s holdings in CSX were worth $1,913,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in CSX during the 2nd quarter valued at $25,000. WFA of San Diego LLC bought a new position in shares of CSX in the 2nd quarter worth $28,000. Rise Advisors LLC lifted its stake in shares of CSX by 86.4% during the 1st quarter. Rise Advisors LLC now owns 2,594 shares of the transportation company’s stock worth $76,000 after purchasing an additional 1,202 shares during the last quarter. McIlrath & Eck LLC boosted its position in CSX by 217.5% during the first quarter. McIlrath & Eck LLC now owns 3,239 shares of the transportation company’s stock valued at $95,000 after purchasing an additional 2,219 shares in the last quarter. Finally, Truvestments Capital LLC boosted its position in CSX by 51.2% during the first quarter. Truvestments Capital LLC now owns 5,916 shares of the transportation company’s stock valued at $174,000 after purchasing an additional 2,004 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insider Buying and Selling

In other CSX news, SVP Michael S. Burns sold 24,249 shares of CSX stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $36.76, for a total transaction of $891,393.24. Following the completion of the transaction, the senior vice president owned 51,640 shares in the company, valued at approximately $1,898,286.40. This trade represents a 31.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin S. Boone sold 31,053 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $36.09, for a total value of $1,120,702.77. Following the completion of the sale, the executive vice president owned 197,521 shares in the company, valued at $7,128,532.89. The trade was a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CSX. The Goldman Sachs Group increased their price objective on CSX from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Susquehanna decreased their price target on CSX from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, September 25th. Stephens raised their price target on CSX from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Sanford C. Bernstein boosted their price target on CSX from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 30th. Finally, TD Cowen upped their price objective on shares of CSX from $38.00 to $39.00 and gave the company a “buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

CSX Stock Down 1.0%

Shares of CSX stock opened at $36.80 on Wednesday. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.54. The firm has a market capitalization of $68.53 billion, a PE ratio of 24.05, a P/E/G ratio of 3.35 and a beta of 1.30. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. The stock’s 50-day simple moving average is $35.63 and its 200-day simple moving average is $34.43.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 24.95% and a net margin of 20.55%.The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. CSX’s revenue for the quarter was down .9% on a year-over-year basis. Equities analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.13 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. CSX’s dividend payout ratio is presently 33.99%.

About CSX

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.