Insider Selling: CSX (NASDAQ:CSX) Director Sells $464,500.00 in Stock

CSX Corporation (NASDAQ:CSX) Director John Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CSX Stock Up 1.6%

Shares of CSX stock opened at $46.99 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. The firm has a market cap of $87.31 billion, a P/E ratio of 28.83, a P/E/G ratio of 2.44 and a beta of 1.22. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $47.25. The business has a 50-day moving average price of $44.12 and a 200 day moving average price of $40.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.CSX’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. On average, sell-side analysts forecast that CSX Corporation will post 1.9 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. CSX’s dividend payout ratio is 34.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Argus upped their target price on CSX from $42.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. New Street Research set a $49.00 target price on CSX in a report on Thursday, April 23rd. JPMorgan Chase & Co. upped their target price on CSX from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, BMO Capital Markets upped their target price on CSX from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.42.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSX. FNY Investment Advisers LLC grew its holdings in CSX by 437.3% in the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after buying an additional 586 shares in the last quarter. WFA of San Diego LLC bought a new position in CSX during the 2nd quarter valued at $28,000. Wilkerson Advisory Group LLC boosted its stake in CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares in the last quarter. CrossGen Wealth LLC bought a new position in CSX during the 4th quarter valued at $54,000. Finally, Aventura Private Wealth LLC bought a new position in CSX during the 4th quarter valued at $63,000. 73.57% of the stock is owned by institutional investors.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.