Stock Traders Purchase Large Volume of CSX Call Options (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX) was the recipient of some unusual options trading activity on Monday. Investors bought 32,791 call options on the stock. This is an increase of 95% compared to the average daily volume of 16,818 call options.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CSX shares. Jefferies Financial Group raised their target price on CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn boosted their price target on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Evercore set a $51.00 price target on CSX in a research note on Thursday, July 23rd. BMO Capital Markets reissued a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $54.00 price objective on CSX in a research note on Thursday, July 23rd. Seventeen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.17.

CSX Price Performance

NASDAQ:CSX opened at $50.84 on Wednesday. The firm’s fifty day moving average is $47.91 and its two-hundred day moving average is $43.43. The firm has a market cap of $94.18 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 2.39 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX has a one year low of $31.80 and a one year high of $53.60.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Research analysts expect that CSX will post 1.98 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is currently 32.37%.

More CSX News

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Investors purchased 32,791 CSX call options, about 95% above the stock’s typical daily call volume. The activity may indicate increased bullish positioning, although options flows do not necessarily predict future performance.
• Neutral Sentiment: Conrail CEO Gorton is retiring. Because Conrail is co-owned by CSX and Norfolk Southern, the leadership change could create some uncertainty, but the immediate financial effect on CSX is unclear. Conrail CEO Gorton retiring
• Neutral Sentiment: A CSX railroad crossing on State Road 60 in Florida is scheduled to remain closed for two weeks for maintenance or related work. The disruption appears localized and is unlikely to materially affect companywide results. CSX railroad crossing closure
• Negative Sentiment: Two people suffered critical injuries while cranes were being scrapped at a CSX intermodal facility in Jacksonville. The incident could bring operational, regulatory, liability, or reputational concerns, although its financial impact is not yet known. Jacksonville intermodal facility accident
• Negative Sentiment: Chief Accounting Officer Angela C. Williams sold 30,000 shares worth approximately $1.60 million, reducing her direct ownership by 74.19%. Senior Vice President Michael S. Burns also sold 13,000 shares valued at about $684,840, cutting his holdings by 17.90%. Multiple insider sales can weigh on sentiment, though such transactions may reflect personal financial planning rather than a view on CSX’s outlook. CSX insider stock sale

Insider Activity at CSX

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 189,708 shares of company stock valued at $9,132,304 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CSX. Pinebridge Investments LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $5,979,000. Cohen & Steers Inc. lifted its stake in shares of CSX by 1.2% in the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after purchasing an additional 98,977 shares during the period. Allstate Corp boosted its holdings in CSX by 105.7% during the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock worth $4,962,000 after buying an additional 70,326 shares in the last quarter. Farther Finance Advisors LLC grew its position in CSX by 159.5% during the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock valued at $2,661,000 after buying an additional 45,116 shares during the period. Finally, KTF Investments LLC acquired a new stake in CSX during the fourth quarter valued at $1,325,000. 73.57% of the stock is owned by institutional investors and hedge funds.

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.