Clarence W. Gooden Sells 16,129 Shares of CSX Corp. (CSX) Stock
CSX Corp. (NASDAQ:CSX) President Clarence W. Gooden sold 16,129 shares of the company’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $31.00, for a total transaction of $499,999.00. Following the completion of the transaction, the president now owns 127,954 shares in the company, valued at $3,966,574. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of CSX Corp. (NASDAQ:CSX) opened at 31.15 on Friday. The firm has a market cap of $29.47 billion, a PE ratio of 17.00 and a beta of 1.23. The stock has a 50 day moving average of $29.41 and a 200 day moving average of $27.43. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $31.31.
CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $2.71 billion for the quarter. CSX Corp. had a net margin of 15.93% and a return on equity of 14.80%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. Equities research analysts anticipate that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 annualized dividend and a yield of 2.31%. CSX Corp.’s dividend payout ratio is presently 40.00%.
Several brokerages have recently commented on CSX. Vertical Research began coverage on shares of CSX Corp. in a report on Tuesday. They issued a “hold” rating on the stock. Cowen and Company increased their target price on shares of CSX Corp. from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 15th. Argus reiterated a “buy” rating and set a $35.00 target price on shares of CSX Corp. in a report on Friday, July 15th. Deutsche Bank AG reiterated a “hold” rating and set a $29.00 target price (up from $27.00) on shares of CSX Corp. in a report on Friday, July 15th. Finally, Royal Bank Of Canada increased their target price on shares of CSX Corp. from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.54.
A number of hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA boosted its stake in CSX Corp. by 0.3% in the third quarter. Private Trust Co. NA now owns 26,483 shares of the company’s stock valued at $807,000 after buying an additional 92 shares in the last quarter. Community Bank N.A. boosted its stake in CSX Corp. by 19.9% in the third quarter. Community Bank N.A. now owns 4,300 shares of the company’s stock valued at $132,000 after buying an additional 715 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in CSX Corp. by 1.0% in the third quarter. Canandaigua National Bank & Trust Co. now owns 8,380 shares of the company’s stock valued at $256,000 after buying an additional 85 shares in the last quarter. Genesee Valley Trust Co. bought a new stake in CSX Corp. during the third quarter valued at about $221,000. Finally, Creative Planning boosted its stake in CSX Corp. by 49.6% in the third quarter. Creative Planning now owns 168,463 shares of the company’s stock valued at $5,138,000 after buying an additional 55,841 shares in the last quarter. 68.55% of the stock is currently owned by hedge funds and other institutional investors.
CSX Corp. Company Profile
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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