CSX (NASDAQ:CSX) SVP Sells 13,000 Shares

CSX Corporation (NASDAQ:CSX) SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This represents a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CSX Price Performance

CSX stock traded down $0.13 during midday trading on Tuesday, hitting $51.67. The company’s stock had a trading volume of 4,746,536 shares, compared to its average volume of 13,243,729. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $95.72 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.48 and a beta of 1.21. The stock’s 50-day moving average price is $47.81 and its 200-day moving average price is $43.32.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. Analysts anticipate that CSX Corporation will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

Institutional Investors Weigh In On CSX

Institutional investors have recently modified their holdings of the stock. WFA of San Diego LLC purchased a new stake in shares of CSX during the second quarter worth $28,000. Arlington Trust Co LLC boosted 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 valued at $32,000 after purchasing an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC grew its stake in CSX by 97.4% in the first 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. Allied Private Wealth LLC purchased a new position in CSX in the second quarter valued at about $37,000. Finally, CrossGen Wealth LLC acquired a new position in CSX in the 4th quarter worth about $54,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stephens began coverage on CSX in a report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 target price on the stock. Stifel Nicolaus set a $54.00 target price on shares of CSX in a research report on Thursday. Jefferies Financial Group boosted their price target on shares of CSX from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. TD Cowen raised their price objective on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Argus boosted their target price on shares of CSX from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Seventeen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.17.

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.