John Zillmer Sells 10,000 Shares of CSX (NASDAQ:CSX) Stock

CSX Corporation (NASDAQ:CSX) Director John Zillmer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

CSX Price Performance

CSX stock opened at $46.99 on Friday. The stock has a market capitalization of $87.31 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.40 and a beta of 1.22. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $47.25. The stock’s 50 day moving average price is $44.12 and its two-hundred day moving average price is $40.10. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the business earned $0.34 EPS. CSX’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts predict that CSX Corporation will post 1.9 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 29th. CSX’s dividend payout ratio (DPR) is currently 34.36%.

Hedge Funds Weigh In On CSX

Several large investors have recently bought and sold shares of CSX. Brighton Jones LLC lifted its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in CSX by 3.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 2,281 shares in the last quarter. WFA of San Diego LLC purchased a new stake in shares of CSX during the 2nd quarter valued at $28,000. Captrust Financial Advisors increased its position in shares of CSX by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of CSX by 63.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,470 shares of the transportation company’s stock valued at $88,000 after purchasing an additional 959 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSX. New Street Research set a $49.00 target price on CSX in a report on Thursday, April 23rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on CSX from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. TD Cowen increased their target price on CSX from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Bank of America increased their target price on CSX from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.42.

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.