CSX Corp. (NASDAQ:CSX) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 15,762,438 shares, a growth of 41.3% from the September 15th total of 11,155,529 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average trading volume of 6,322,155 shares, the short-interest ratio is presently 2.5 days.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the firm’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 completion of the sale, 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 this hyperlink. Also, President Clarence W. Gooden sold 16,129 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $31.00, for a total value of $499,999.00. Following the completion of the sale, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC increased its position in CSX Corp. by 2,956.3% in the second quarter. Janus Capital Management LLC now owns 8,445,436 shares of the company’s stock worth $220,257,000 after buying an additional 8,169,105 shares during the period. Wellington Management Group LLP increased its position in CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock worth $975,389,000 after buying an additional 6,331,519 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in CSX Corp. during the second quarter worth about $132,518,000. Lazard Asset Management LLC increased its position in CSX Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 28,572,157 shares of the company’s stock worth $735,731,000 after buying an additional 3,977,973 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in CSX Corp. by 664.9% in the first quarter. Pictet Asset Management Ltd. now owns 3,915,310 shares of the company’s stock worth $94,516,000 after buying an additional 3,403,446 shares during the period. Hedge funds and other institutional investors own 68.55% of the company’s stock.
Several brokerages recently issued reports on CSX. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of CSX Corp. in a research report on Friday. Barclays PLC reaffirmed an “overweight” rating and set a $35.00 target price on shares of CSX Corp. in a research report on Saturday. Citigroup Inc. reiterated a “buy” rating and set a $34.00 price target on shares of CSX Corp. in a report on Friday. Cowen and Company lifted their price target on CSX Corp. from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Vertical Research began coverage on CSX Corp. in a report on Tuesday, October 11th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. CSX Corp. currently has an average rating of “Hold” and a consensus price target of $29.75.
CSX Corp. (NASDAQ:CSX) opened at 31.025 on Friday. The stock has a 50 day moving average price of $29.50 and a 200-day moving average price of $27.47. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $31.73. The stock has a market capitalization of $29.35 billion, a PE ratio of 16.935 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $2.71 billion for the quarter. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.18 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.32%. CSX Corp.’s dividend payout ratio (DPR) is currently 40.00%.
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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