Park National Corp OH Has $5.74 Million Stock Position in CSX Co. (NASDAQ:CSX)

Park National Corp OH lowered its position in CSX Co. (NASDAQ:CSX) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,852 shares of the transportation company’s stock after selling 6,198 shares during the period. Park National Corp OH’s holdings in CSX were worth $5,739,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in CSX in the 2nd quarter valued at $26,000. Valley Wealth Managers Inc. raised its stake in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. Morton Brown Family Wealth LLC bought a new stake in shares of CSX in the third quarter valued at about $31,000. Fairscale Capital LLC acquired a new position in shares of CSX during the second quarter worth about $32,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of CSX during the second quarter worth about $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research reports. Citigroup boosted their target price on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens cut their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Barclays increased their target price on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Wells Fargo & Company lowered their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Finally, BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Up 0.6 %

CSX opened at $32.19 on Wednesday. The stock’s fifty day simple moving average is $34.18 and its 200 day simple moving average is $34.02. CSX Co. has a 1-year low of $31.43 and a 1-year high of $40.12. The stock has a market cap of $62.08 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. As a group, research analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

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.