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

Park Place Capital Corp decreased its position in shares of CSX Co. (NASDAQ:CSX) by 30.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,002 shares of the transportation company’s stock after selling 444 shares during the period. Park Place Capital Corp’s holdings in CSX were worth $34,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Miracle Mile Advisors LLC increased its stake in CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after purchasing an additional 303 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 304 shares in the last quarter. Team Hewins LLC increased its stake in CSX by 1.7% in the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after purchasing an additional 309 shares in the last quarter. Finally, FCA Corp TX grew its holdings in CSX by 0.3% during the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock valued at $4,007,000 after buying an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock traded down $0.69 during midday trading on Friday, reaching $34.08. 13,305,920 shares of the company traded hands, compared to its average volume of 10,860,391. The firm has a market capitalization of $66.62 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The business has a 50 day moving average of $33.56 and a two-hundred day moving average of $35.05. CSX Co. has a 12 month low of $29.03 and a 12 month 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.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CSX shares. Susquehanna dropped their target price on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research report on Tuesday, June 25th. Sanford C. Bernstein upped their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Jefferies Financial Group reduced their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. Finally, Royal Bank of Canada lowered their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.14.

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.