CSX (NASDAQ:CSX) CAO Sells 30,000 Shares

CSX Corporation (NASDAQ:CSX) CAO Angela Williams sold 30,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CSX Stock Performance

Shares of NASDAQ:CSX traded down $0.02 on Tuesday, reaching $51.78. The company’s stock had a trading volume of 4,372,114 shares, compared to its average volume of 13,241,521. The stock’s 50-day moving average is $47.81 and its two-hundred day moving average is $43.32. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The stock has a market capitalization of $95.92 billion, a P/E ratio of 29.92, a PEG ratio of 2.48 and a beta of 1.21.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $3.94 billion for 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 business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. As a group, sell-side analysts forecast that CSX Corporation will post 1.96 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s payout ratio is presently 32.37%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $59.00 target price on shares of CSX in a research report on Friday. Vertical Research downgraded CSX from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a research note on Thursday, April 23rd. Bank of America upped their price objective on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Morgan Stanley set a $32.00 target price on CSX and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $54.00 target price (up from $51.00) on shares of CSX in a research report on Thursday. Seventeen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.17.

Hedge Funds Weigh In On CSX

Institutional investors have recently modified their holdings of the company. WFA of San Diego LLC purchased a new position in shares of CSX during the 2nd quarter worth $28,000. Arlington Trust Co LLC lifted its position in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares during the period. Wilkerson Advisory Group LLC boosted its stake in CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after buying an additional 409 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in CSX in the 2nd quarter worth about $37,000. Finally, CrossGen Wealth LLC purchased a new stake in CSX in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Company Profile

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.