CSX Corp. (NASDAQ:CSX) President Clarence W. Gooden sold 17,332 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of CSX Corp. (NASDAQ:CSX) opened at 30.01 on Thursday. The company has a market capitalization of $28.39 billion, a PE ratio of 16.38 and a beta of 1.32. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $30.53. The firm’s 50-day moving average is $28.69 and its 200-day moving average is $27.11.
CSX Corp. (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the business earned $0.56 EPS. The company’s revenue was down 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that CSX Corp. will post $1.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.18 per share. The ex-dividend date was Monday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.40%. CSX Corp.’s dividend payout ratio is presently 39.13%.
A number of equities research analysts have weighed in on CSX shares. Argus restated a “buy” rating and issued a $35.00 target price on shares of CSX Corp. in a research report on Friday, July 15th. Deutsche Bank AG restated a “hold” rating and issued a $29.00 target price (up from $27.00) on shares of CSX Corp. in a research report on Friday, July 15th. Royal Bank Of Canada upped their target price on CSX Corp. from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, July 15th. BB&T Corp. downgraded CSX Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of CSX Corp. in a research report on Friday, July 15th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.54.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brick & Kyle Associates raised its position in CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock valued at $104,000 after buying an additional 300 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in CSX Corp. during the second quarter valued at $117,000. WFG Advisors LP raised its position in CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock valued at $170,000 after buying an additional 956 shares in the last quarter. Southeast Asset Advisors Inc. purchased a new position in CSX Corp. during the second quarter valued at $200,000. Finally, McKinley Carter Wealth Services Inc. purchased a new position in CSX Corp. during the second quarter valued at $202,000. Institutional investors own 68.55% of the company’s stock.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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