CSX (NASDAQ:CSX) Director John Zillmer Sells 19,500 Shares of Stock

CSX Corporation (NASDAQ:CSX) Director John Zillmer sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the sale, the director directly owned 334,214 shares in the company, valued at approximately $17,125,125.36. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CSX Stock Performance

Shares of CSX opened at $51.98 on Thursday. The stock has a market capitalization of $95.82 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 2.27 and a beta of 1.21. The business’s fifty day moving average price is $48.81 and its 200 day moving average price is $45.34. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75. CSX Corporation has a 12-month low of $33.63 and a 12-month high of $53.60.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Equities research analysts forecast that CSX Corporation will post 2.04 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s dividend payout ratio is currently 29.02%.

CSX News Roundup

Here are the key news stories impacting CSX this week:

• Positive Sentiment: CSX’s latest quarterly results exceeded expectations, with earnings per share of $0.57 versus the $0.53 consensus estimate and revenue of $4.02 billion versus expectations of $3.96 billion. Revenue increased 12% year over year, supporting the recent positive investment case. Does CSX Stock’s Q3 Earnings Beat Justify a Buy Decision Today?
• Positive Sentiment: Susquehanna raised its CSX price target from $55 to $60 and maintained a positive rating, implying additional upside from recently quoted levels. Susquehanna raises target for CSX Corp stock to USD 60.00
• Positive Sentiment: Analyst commentary is also evaluating whether CSX has outperformed transportation peers this year, which may reinforce investor interest in the shares. Is CSX Stock Outpacing Its Transportation Peers This Year?

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on CSX from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $52.00 price target (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Raymond James Financial set a $55.00 price target on CSX in a report on Friday, October 23rd. TD Cowen restated a “buy” rating and set a $55.00 price objective (up from $54.00) on shares of CSX in a research report on Thursday, October 22nd. Finally, UBS Group set a $54.00 price objective on CSX in a research note on Thursday, October 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.20.

Institutional Trading of CSX

Several hedge funds have recently bought and sold shares of CSX. Evolve Private Wealth LLC bought a new stake in shares of CSX during the second quarter valued at approximately $693,000. M. Kulyk & Associates LLC acquired a new stake in CSX in the 2nd quarter valued at approximately $8,145,000. Wealthfront Advisers LLC acquired a new stake in CSX in the 2nd quarter valued at approximately $7,609,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in CSX in the 2nd quarter valued at approximately $6,598,000. Finally, First National Bank of Omaha acquired a new stake in CSX in the 2nd quarter valued at approximately $6,248,000. 73.57% of the stock is currently owned by institutional investors.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.