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

CSX Corporation (NASDAQ:CSX) SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

CSX Stock Down 0.3%

CSX stock traded down $0.13 during trading hours 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. 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. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60. The stock has a 50 day moving average price of $47.81 and a two-hundred day moving average price of $43.32.

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

CSX Announces Dividend

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

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent analyst reports. Argus upped their price target on CSX from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Jefferies Financial Group boosted their target price on CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Morgan Stanley set a $32.00 target price on CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Sanford C. Bernstein boosted their price objective on shares of CSX from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Finally, TD Cowen upped their price objective on shares of CSX from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Seventeen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.17.

Institutional Trading of CSX

Hedge funds have recently added to or reduced their stakes in the business. Pinebridge Investments LLC acquired a new stake in CSX in the 4th quarter valued at approximately $5,979,000. Cohen & Steers Inc. boosted its position in shares of CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after acquiring an additional 98,977 shares during the period. Allstate Corp increased its position in CSX by 105.7% during the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock worth $4,962,000 after acquiring an additional 70,326 shares during the period. Farther Finance Advisors LLC increased its position in CSX by 159.5% during the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after acquiring an additional 45,116 shares during the period. Finally, KTF Investments LLC bought a new stake in shares of CSX in the fourth quarter valued at about $1,325,000. Institutional investors 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.