Park Edge Advisors LLC Sells 336 Shares of CSX Co. (NASDAQ:CSX)

Park Edge Advisors LLC decreased its position in shares of CSX Co. (NASDAQ:CSX) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,032 shares of the transportation company’s stock after selling 336 shares during the quarter. Park Edge Advisors LLC’s holdings in CSX were worth $372,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley grew its position in CSX by 3.1% in the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares during the period. International Assets Investment Management LLC increased its position in shares of CSX by 3,241.9% during the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock valued at $8,158,000 after buying an additional 228,263 shares during the period. Partners Group Holding AG increased its position in shares of CSX by 26.8% during the fourth quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after buying an additional 149,105 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CSX by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after buying an additional 34,730 shares during the period. Finally, Sapient Capital LLC purchased a new position in shares of CSX during the fourth quarter worth about $1,279,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX traded down $0.21 on Thursday, reaching $33.55. 4,523,228 shares of the stock were exchanged, compared to its average volume of 10,754,422. The company’s 50-day moving average price is $33.42 and its 200 day moving average price is $35.12. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The firm has a market capitalization of $65.59 billion, a PE ratio of 18.43, a PEG ratio of 1.75 and a beta of 1.20.

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

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CSX. Royal Bank of Canada cut their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Susquehanna decreased their price objective on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company initiated coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Jefferies Financial Group reduced 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. Finally, Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.59.

CSX Company 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.