Parkside Financial Bank & Trust Grows Stock Holdings in CSX Co. (NASDAQ:CSX)

Parkside Financial Bank & Trust increased its stake in shares of CSX Co. (NASDAQ:CSXGet Rating) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,828 shares of the transportation company’s stock after buying an additional 494 shares during the quarter. Parkside Financial Bank & Trust’s holdings in CSX were worth $555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSX. Life Planning Partners Inc acquired a new stake in CSX in the fourth quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. lifted its position in CSX by 80.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 811 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 361 shares during the period. Core Alternative Capital lifted its position in CSX by 663.9% in the first quarter. Core Alternative Capital now owns 825 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 717 shares during the period. Bank of New Hampshire acquired a new stake in CSX in the first quarter valued at about $34,000. Finally, Rational Advisors LLC acquired a new stake in CSX in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CSX shares. Stephens lifted their price target on shares of CSX from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, July 21st. Susquehanna Bancshares reduced their price target on shares of CSX from $36.00 to $35.00 and set a “positive” rating for the company in a research report on Thursday, July 21st. Credit Suisse Group lifted their price target on shares of CSX to $37.00 in a research report on Friday, July 22nd. Loop Capital upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Thursday, July 21st. Finally, Cowen reduced their price target on shares of CSX from $39.00 to $37.00 in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $36.52.

CSX Stock Up 1.0 %

CSX stock opened at $32.21 on Friday. The stock has a market capitalization of $68.97 billion, a P/E ratio of 18.10, a PEG ratio of 1.65 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a one year low of $27.59 and a one year high of $38.63. The company has a 50 day moving average price of $31.62 and a two-hundred day moving average price of $32.86.

CSX (NASDAQ:CSXGet Rating) last released its earnings results on Wednesday, July 20th. The transportation company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.67 billion. CSX had a net margin of 28.24% and a return on equity of 29.07%. CSX’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. As a group, sell-side analysts expect that CSX Co. will post 1.89 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.24%. CSX’s payout ratio is currently 22.47%.

About CSX

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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 transports chemicals, agricultural and food products, automotive, minerals, 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.

Further Reading

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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