Park Place Capital Corp Lowers Holdings in CSX Co. (NASDAQ:CSX)

Park Place Capital Corp decreased its holdings in CSX Co. (NASDAQ:CSX) by 47.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,446 shares of the transportation company’s stock after selling 1,308 shares during the period. Park Place Capital Corp’s holdings in CSX were worth $54,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CSX. Norges Bank bought a new stake in shares of CSX in the 4th quarter worth $757,276,000. Price T Rowe Associates Inc. MD grew its holdings in shares of CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares during the period. Capital International Investors grew its holdings in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. M&G Investment Management Ltd. grew its holdings in shares of CSX by 25.5% in the fourth quarter. M&G Investment Management Ltd. now owns 3,993,901 shares of the transportation company’s stock worth $139,787,000 after acquiring an additional 810,362 shares during the period. Finally, Morgan Stanley grew its holdings in shares of CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after acquiring an additional 739,411 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $33.59 on Tuesday. The stock’s 50-day simple moving average is $33.46 and its 200-day simple moving average is $35.14. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a market capitalization of $65.67 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.73 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 earnings per share. As a group, analysts expect that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several research analyst reports. UBS Group cut their price objective on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Bank of America cut their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada cut their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Finally, Jefferies Financial Group cut their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

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.