Angela Williams Sells 30,000 Shares of CSX (NASDAQ:CSX) Stock

CSX Corporation (NASDAQ:CSX) CAO Angela Williams sold 30,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CSX Trading Down 0.2%

CSX opened at $50.74 on Thursday. The stock has a market cap of $93.99 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.35 and a beta of 1.21. The stock’s 50 day moving average price is $48.00 and its 200-day moving average price is $43.54. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts forecast that CSX Corporation will post 1.98 EPS for the current year.

CSX Announces Dividend

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

Hedge Funds Weigh In On CSX

Institutional investors have recently made changes to their positions in the company. WFA of San Diego LLC bought a new stake in shares of CSX in the second quarter valued at about $28,000. Arlington Trust Co LLC increased its position in CSX by 58.0% during the 2nd 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 period. Wilkerson Advisory Group LLC raised its holdings in shares of CSX by 97.4% in the 1st 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 stake in shares of CSX in the 2nd quarter worth approximately $37,000. Finally, CrossGen Wealth LLC purchased a new stake in shares of CSX in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Robert W. Baird upped their price target on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Truist Financial set a $46.00 price objective on shares of CSX in a report on Friday, July 10th. Susquehanna upgraded shares of CSX from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $50.00 to $58.00 in a report on Tuesday, July 14th. Rothschild & Co Redburn boosted their price objective on shares of CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their target price on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus 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.