Park National Corp OH boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 32.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 263,452 shares of the transportation company’s stock after purchasing an additional 64,070 shares during the period. CSX comprises approximately 1.1% of Park National Corp OH’s holdings, making the stock its 28th largest holding. Park National Corp OH’s holdings in CSX were worth $20,383,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CSX. Sepio Capital LLC purchased a new position in CSX in the 1st quarter worth approximately $1,066,000. Horizon Investments LLC purchased a new position in CSX in the 1st quarter worth approximately $225,000. Nordea Investment Management AB raised its holdings in CSX by 74.2% in the 1st quarter. Nordea Investment Management AB now owns 304,445 shares of the transportation company’s stock worth $22,779,000 after acquiring an additional 129,631 shares during the last quarter. Advisory Services Network LLC raised its holdings in CSX by 11.1% in the 1st quarter. Advisory Services Network LLC now owns 21,976 shares of the transportation company’s stock worth $1,644,000 after acquiring an additional 2,202 shares during the last quarter. Finally, Allstate Corp raised its holdings in CSX by 0.5% in the 1st quarter. Allstate Corp now owns 66,380 shares of the transportation company’s stock worth $4,967,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 75.74% of the company’s stock.
In other news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total transaction of $556,500.00. Following the completion of the sale, the executive vice president now directly owns 79,697 shares in the company, valued at $6,335,911.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.83% of the company’s stock.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. CSX’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts anticipate that CSX Co. will post 4.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.37%. CSX’s payout ratio is currently 25.00%.
CSX has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating on shares of Alector in a report on Wednesday, July 17th. Citigroup set a $20.00 price objective on shares of Compania de Minas Buenaventura SAA and gave the stock a “buy” rating in a report on Thursday, April 4th. Stephens restated an “overweight” rating and issued a $120.00 price objective on shares of TAKE-TWO INTERACTIVE SOFTWARE in a report on Wednesday, July 17th. Raymond James restated a “reduce” rating and issued a $48.00 price objective (up from $45.00) on shares of Hancock Whitney in a report on Wednesday, July 17th. Finally, Cascend Securities lowered shares of Union Pacific from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.13.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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