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

Park Edge Advisors LLC trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Spinnaker Investment Group LLC purchased a new stake in CSX in the 1st quarter worth approximately $200,000. First Trust Direct Indexing L.P. boosted its holdings in CSX by 13.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 48,775 shares of the transportation company’s stock valued at $1,808,000 after acquiring an additional 5,808 shares during the period. Massachusetts Wealth Management boosted its stake in shares of CSX by 5.6% in the 1st quarter. Massachusetts Wealth Management now owns 37,540 shares of the transportation company’s stock valued at $1,392,000 after buying an additional 2,000 shares during the period. Norden Group LLC boosted its stake in shares of CSX by 3,713.7% in the 1st quarter. Norden Group LLC now owns 303,072 shares of the transportation company’s stock valued at $11,235,000 after buying an additional 295,125 shares during the period. Finally, Bourgeon Capital Management LLC raised its position in shares of CSX by 1.1% during the 1st quarter. Bourgeon Capital Management LLC now owns 213,325 shares of the transportation company’s stock worth $7,908,000 after acquiring an additional 2,396 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock traded down $0.21 during midday trading on Thursday, reaching $33.55. 4,523,228 shares of the company’s stock were exchanged, compared to its average volume of 10,754,422. The stock’s 50-day simple moving average is $33.42 and its 200 day simple moving average is $35.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm has a market cap of $65.59 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.75 and a beta of 1.20. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s quarterly revenue 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. On average, analysts expect that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

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

Analyst Ratings Changes

CSX has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Stifel Nicolaus upped their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Jefferies Financial Group dropped their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. UBS Group dropped their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

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.